Based on the latest Alibaba unique visitor data for Tmall and Taobao, we have lowered our fiscal Q4 2018 estimate for online marketing service revenue from $3.97 billion to $3.82 billion. We now expect pageviews to be up 3.5% Y/Y in fiscal Q4 versus up 14% Y/Y last quarter. The end result is our total revenue forecast in fiscal Q4 decreasing from $9.56 billion to $9.41 billion. We still see the full year 2018 revenue ahead of guidance (beating it by 1.4%). Revenue growth we now see as being up 54.9% Y/Y versus up 56% in fiscal Q3/18. Our adjusted 2018 EPS moves up […]
Bruce Zhang
2 posts
We adjust all of our figures to show results and estimates in constant currency (6.35 USD/RMB). This report was published by a junior research associate Bruce Zhang and overseen by Robin Manson-Hing. It is a preliminary view of Alibaba. Over the last three years, Alibaba (BABA-NYSE) is generally highly correlated with the NASDAQ composite and other technology stocks, while trading at a beta of 2.5x. SImilar to the market, Alibaba’s share price has also pulled back. We take a closer look at Alibaba’s business and what the stock price might do in the near future. In constant currency, sales growth was materially […]