Alibaba is on top of the game

By: Miguel A. Rodriguez

09:45, 14 September 2020

1598000852.jpg
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


Share this article

The information presented herein is prepared by CAPEX.com/eu and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.                                                                                                                            Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience, or current financial situation.Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.

Most affected instruments

USA500

$ 10

ALIBABA

$ 10