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Alibaba Beats Sales Forecasts On Strong Commerce Growth

Published on May 4 2018 1:40 PM in Retail tagged: Trending Posts / E-Commerce / China / Alibaba / Paywall

Alibaba Beats Sales Forecasts On Strong Commerce Growth

Alibaba Group Holding Ltd., China's biggest e-commerce firm, reported a 61% increase in fourth-quarter revenue, beating analyst estimates, driven by stronger than expected growth in its core commerce business.

The company also forecast a revenue increase of 60% for the year to 31 March, 2019, versus 58% in 2017-18.

The results mark two years of continuous quarterly revenue growth above 50% for Alibaba, even as new business investments and the consolidation of its 33% stake in payment affiliate Ant Financial continue to weigh on margins.

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