China's Alibaba Group Holding Ltd reported a better-than-expected quarterly revenue on Thursday, as its core e-commerce and cloud computing businesses posted steady growth.

Revenue rose to 161.46 billion yuan ($23.12 billion) in the third quarter ended Dec. 31 from 117.28 billion yuan, a year earlier.

Analysts had expected revenue of 159.28 billion yuan, according to IBES data from Refinitiv.

($1 = 6.9829 Chinese yuan renminbi)

(Reporting by Akanksha Rana in Bengaluru and Josh Horwitz in Shanghai; Editing by Sriraj Kalluvila) ((akanksha.rana@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1130;))