Alibaba: revenue growth set to accelerate; shares surge.
(CercleFinance.com) - Chinese e-commerce company Alibaba sees revenue growth accelerating in fiscal year 2018, sending the shares soaring over 10% in Wall Street early trading on Thursday.
Speaking at the group's investor day at Hangzhou headquarters today, CFO Daniel Zhang forecast total revenue growth of 45%-49% in the financial year that will close in March 2018.
This compares to 45% in the last fiscal year ended in last March, excluding the impact of the consolidation of Youku and Lazada.
By comparison, the company's revenue growth was just 33% in fiscal year 2016.
During the meeting, Daniel Zhang insisted that Alibaba was planning continuous strategic investments to drive future growth, with the company having a net cash position of 8 billion dollars as of March 2017.
The stock is currently jumping 10.4% at 138.7 dollars: the shares have risen over 58% this year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Speaking at the group's investor day at Hangzhou headquarters today, CFO Daniel Zhang forecast total revenue growth of 45%-49% in the financial year that will close in March 2018.
This compares to 45% in the last fiscal year ended in last March, excluding the impact of the consolidation of Youku and Lazada.
By comparison, the company's revenue growth was just 33% in fiscal year 2016.
During the meeting, Daniel Zhang insisted that Alibaba was planning continuous strategic investments to drive future growth, with the company having a net cash position of 8 billion dollars as of March 2017.
The stock is currently jumping 10.4% at 138.7 dollars: the shares have risen over 58% this year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.