Will Alibaba's Cloud Business See A Turnaround In Q4? [Forbes]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Forbes
Chinese e-commerce and cloud behemoth is poised to report its Q4 FY'24 results on May 14th, reporting on a quarter that is likely to see the company's business exhibit only modest growth, amid headwinds in the domestic e-commerce market and the company's cloud business seeing slow growth. We estimate that earnings will come in at about $1.42 per share, slightly ahead of the consensus estimates while revenues are likely to come in at about $30.5 billion, up about 4% compared to last year. So what are some of the trends that are likely to drive Alibaba stock? The company has been weighed down by multiple issues. For one, the Chinese economy has seen a slower-than-expected rebound from the Covid-19 lockdowns, with issues being compounded by weakness in the real estate market. Over Q3 FY'24, revenue from the company's Taobao and Tmall online marketplaces rose just 3% year-over-year. Things could get a bit better over Q4 FY'24, as retail sales in China over the quarter rose 4.7% year-ov
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BABA
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- 5/14/24 - Beat
BABA
Sec Filings
- 5/14/24 - Form 6-K
- 5/13/24 - Form 13F-HR
- 4/30/24 - Form 6-K
- BABA's page on the SEC website