Alibaba Earnings Report

Alibaba Earnings Report

Alibaba is expected to report earnings today before the market open.

The company raised $13 billion in a second public listing in Hong Kong exchange in the past year. The annual singles day festival has gained $38.4 billion from online transactions made within 24 hours across Alibaba’s shopping platforms. That’s 26% up from 2018 and the biggest profit ever for a one-day event. EPS forecast is, $2.27 up from $1.82, in the year-ago quarter and the expected revenue is $22.66 billion compared to $17.47 billion a year ago.

The big question is how the various disruptions from the coronavirus could impact the company’s earnings in the current quarter. Alibaba is a barometer of the Chinese domestic economy. A good earnings report from the company could have a positive effect on correlated assets such as eBay and Amazon and vice versa. Oil jumped 2.46% as deeper production cuts are expected from OPEC and China reported a lower number of new coronavirus cases.

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Alibaba Earnings Report
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