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 slightly from $5.53 to $5.59 due to slower than expected hiring.
We continue to believe Alibaba is a HOLD.
Source: Perspectec and Thomson Reuters
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| RATING | CURRENT RATING | PREVIOUS RATING |
| BUY | ||
| HOLD/NEUTRAL | ✔ | ✔ |
| SELL |
For the purposes of complying with NYSE, NASDAQ and all Self-Regulatory Organizations, Perspectec Inc. has assigned the following rating system BUY, HOLD/NEUTRAL, SELL for the securities which are the views expressed by an analyst, Independent contractor, and or an employee of Perspectec Inc. The information and opinions in these reports were prepared by Perspectec Inc. or an analyst, independent contractor. Though the information herein is believed to be reliable and has been obtained from public sources believed to be reliable. Perspectec Inc. makes no representation as to its accuracy or completeness.
