Categories Earnings, Retail

What to expect when Alibaba (BABA) reports Q3 results

Alibaba Group (NYSE: BABA) is slated to report third quarter 2020 earnings results on Thursday, February 13, before the market opens. Analysts have forecast earnings of $2.22 per share on revenue of $22.4 billion.

The company is expected to see revenue growth helped by strength in the cloud business and the core commerce businesses. The growth in mobile users is also likely to benefit the results. Last quarter, the company saw double-digit revenue increases across all its divisions. Alibaba also saw strength in the China and international retail and wholesale businesses.

Alibaba reports Q2 2020 earnings results

Alibaba has been investing heavily in its business and the higher costs related to these initiatives are likely to weigh on the bottom line numbers. The company also faces stiff competition from ecommerce giants like Amazon (NYSE: AMZN) as well as from local players.

In the second quarter of 2020, Alibaba beat revenue and profit estimates. Revenues increased 40% to $16.6 billion while adjusted earnings per ADS rose 36% to $1.83.

Annual active customers on the company’s China retail marketplaces reached 693 million, up 19 million from the 12-month period ended June 30, 2019. Mobile MAUs on the China retail marketplaces reached 785 million in September 2019, up 30 million over June 2019.

Also read: Shopify Q4 2019 Earnings Preview

Alibaba’s shares have gained 28% over the past one year. The stock reached a new high of $231.14 last month. The stock has held its ground despite tough conditions in China including a weak economy, trade tensions and violence in Hong Kong. The general sentiment on the stock remains bullish.

The majority of analysts have rated the stock as Buy and it has an average price target of $251.00, which represents an upside of 16% from the current level.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

COST Stock: These factors make Costco a good bet for the long term

Like other leading store operators, Costco Wholesale Corporation (NASDAQ: COST) went into overdrive when people stockpiled on essential items after coronavirus threw normal life out of gear in early 2020.

NKE Earnings: Key quarterly highlights from Nike’s Q1 financial results

Nike Inc. (NYSE: NKE) reported first quarter 2022 earnings results today. Total revenue increased 16% year-over-year to $12.2 billion. Net income rose 23% to $1.9 billion while EPS grew 22%

Costco Earnings (COST): Q4 profit beats Street view amid strong sales growth

Warehouse chain Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the fourth quarter of 2021. The results also topped expectations. Fourth-quarter net sales grew 17.5% annually to

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top