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Alibaba is on top of the game

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Alibaba earnings could mark an improvement in the Chinese economy

The Chinese behemoth retailer Alibaba managed to surprise Wall Street with Q2 earnings that topped the estimates. 

Alibaba generated $21.76 billion in revenue, marking a 34% increase from the same time last year. Analysts were foresting $21.4 billion. At the same time, the company had a net income of $3.74 billion, or $2.51 per share. 

In China, the number of active customers increased by 16 million to 742 million, as inland users turned to e-commerce due to the pandemic. 

Now, given the company's resilience and results in Q2, experts believe that Alibaba's stock price is to reach a high of $300, as its current stock price is $260 (according to MarketWatch). 

Following the report, the stocks gained 0.5%. In the past quarter, Alibaba stock price increased by 20%, while USA500 went higher by 14%. 

See how other retailers did in Q2 on CAPEX.com!

Sources: marketwatch.com, businesswire.com


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.