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Just outside world top 10

28 Oct, 2014

Alibaba’s market cap of $247 billion at its intraday high places it only $2 billion outside the world’s top 10 most valuable companies. It would have overtaken Novartis in tenth spot except for better-than-expected third quarter results that also boosted Novartis’s shares intraday. Revenue was $8.6 billion for the financial year compared with Walmart’s $473 billion.