NEW YORK (AP) - Chinese e-commerce powerhouse Alibaba Holding Ltd.'s third quarter net income jumped ahead of analyst expectations as mobile shopping continued to grow and Chinese customers snapped up items during the holidays.

NEW YORK (AP) Chinese e-commerce powerhouse Alibaba Holding Ltd.'s third quarter net income jumped ahead of analyst expectations as mobile shopping continued to grow and Chinese customers snapped up items during the holidays.

The results were a reassuring sign as worries about a slowdown in the Chinese economy continue. Shares jumped 4 percent in premarket trading.

Net income for the three months ending Dec. 31 more than doubled to 12.5 billion Chinese yuan ($1.93 billion) or 4.90 yuan per share (76 cents) from 5.94 billion Chinese yuan.

Adjusted for one-time costs, net income totaled 99 cents per share. Analysts expected 89 cents per share, according to FactSet.

Revenue rose 32 percent to 34.54 billion Chinese yuan ($5.33 billion) from $26.18 billion last year. That beat analyst expectations of $5.11 billion.