New | Alibaba quarterly results to show strong revenues, net profit modestly higher
“We believe Alibaba will deliver top-line growth that is either in line or beats the consensus [market analysts] expectations” - Alicia Yap, the head of China internet research at Barclays
Jack Ma Yun will likely shine some light on Alibaba Group’s latest global expansion and entertainment initiatives on Thursday, after the e-commerce giant reports its earnings in the three months to December in the United States.
New York-traded Alibaba this month has continued to pursue Ma’s aggressive investment strategy, with stakes purchased in Israeli start-up Visualead, mobile taxi-booking service KuaiDi Dache and marketing platform AdChina.
“We expect Alibaba to report solid results for its [fiscal] third quarter,” Alicia Yap, the head of China internet research at Barclays, said in a report. “We believe Alibaba will deliver top-line growth that is either in line or beats the consensus [market analysts] expectations.”
That optimism is backed by the new global record for one-day online sales set by Alibaba on November 11, when it raked in 57.1 billion yuan (HK$72.5 billion) of gross merchandise volume during the world’s biggest internet shopping festival — known as “Singles Day” on the mainland.
Alibaba’s “Double 11” campaign was helped by its decision to include, for the first time, merchants and consumers from more than 200 countries on its international shopping platforms, Tmall Global and AliExpress.
The Hangzhou-based company’s primary internet shopping platforms that support various online merchants on the mainland are Tmall.com and Taobao Marketplace.