WSJ – Alibaba Says Revenue Could Grow 49%; Shares Jump

Alibaba’s net income for the quarter ending March 31st more than doubled from 2016 as China’s huge middle class continues to propel a remarkable surge for its online shopping industry.

June 8, 2017

‘Alibaba Group Holding said its annual revenue in fiscal 2018 could grow as much as 49%, sending its shares 11% higher in early trading Thursday.

The Hangzhou-based company’s Chief Financial Officer Maggie Wu said at the firm’s investor conference earlier that day that revenue growth would accelerate as its e-commerce unit would benefit from offering consumers more tailored shopping experiences and benefit from its data technology capabilities.’

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