Research

Alibaba is popping after earnings (BABA)

Alibaba is popping after earnings (BABA)

Alibaba's stock is up by over 81 per cent this year, lifted by steady increases in revenue for its commerce business and strong growth in its cloud computing and entertainment units, even as investments in offline stores are yet to pay off.

Alibaba Group Holding shares rose almost 5% in pre-market trading after the Chinese eCommerce giant reported better-than-expected earnings thanks to an increase in mobile users and paid cloud customers.

Sales on the company's e-commerce platforms made up 86 per cent of revenue in the three months to June 30th, up from 73 per cent a year prior.

Shares of Alibaba are up 4.68% in early trading Thursday after the earnings beat.

Overall revenues in the quarter rose 56 per cent to 50.2 billion yuan, beating the United States dollars 7.2 billion average of analyst estimates compiled by Bloomberg.

"Our technology is driving significant growth across our business and strengthening our position beyond core commerce", the statement quoted Alibaba Group CEO Daniel Zhang as saying.

King Salman allows Qatari pilgrims without E-permits
Saudi Arabia has opened doors for Qatari pilgrims to come and perform Hajj in Mecca as per the media of Saudi Arabia. Saudi state TV said 100 Qataris had arrived at the border crossing on Thursday.

Revenue from its global e-commerce businesses chalked up 2.64 billion yuan (US$389 million) for the quarter, growing 136 percent year-on-year.

Alibaba's Taobao platform is estimated to hold more than 90 percent of the consumer-to-consumer market, while its Tmall is believed to handle over half of business-to-consumer transactions.

Combined with 30% rise in digital media and entertainment revenue and a 21% increase in innovation initiatives, Alibaba has tons of long-term revenue drivers.

In June Alibaba raised its expectations for full year revenue growth to 45-49 per cent.

It reported net income of 14.03 billion yuan (US$2.07 billion) for the quarter. Still, the segment continued to be unprofitable, losing 3.4 billion yuan in the quarter as Alibaba continued to invest in content on video platform Youku Tudou to spur growth in users and subscriptions.


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