Alibaba posts fastest growth in four years

Alibaba Group Holding reported its fastest pace of growth in more than four years by wringing more revenue from newer arenas such as cloud computing and entertainment, avoiding the disappointments that hit rival tech giants.

Billionaire Chairman Jack Ma’s free-spending ways helped the e-commerce heavyweight side-step a Chinese economic slowdown and best its rivals this earnings season.

Arch-foe Tencent Holdings posted its biggest profit drop in a decade after it ran afoul of regulatory tangles, while internet stalwarts from Facebook to Twitter grappled with fundamental issues such as waning user growth.