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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