Online & mobile commerce company Alibaba is thriving and rocking in the stock markets. This online commerce major continues to stun investors with its massive growth potential. Its core commerce business segment, which is the largest revenue generation segment, extended its substantial growth in the final quarter last year, allowing it to invest aggressively in digital media, cloud computing, and entertainment.
Its market share and global footprints have been increasing at a strong rate, enabling it to successfully engage the half a billion consumers across its platforms in fiscal 2017. Consequently, the company reported record revenue growth for the final quarter and fiscal 2017.
Alibaba’s leadership under founder Jack Ma, has made a forecast massive revenue growth of 45%-49% this year, a target that implies sales of up to $34.3B, and elicited gasps of “wow” from investors at an event in Hangzhou.
The guidance puts Alibaba, which in May recorded its biggest quarterly rise in revenues since its blockbuster IPO in 2014, on track for its biggest underlying rise so far, said CFO of Alibaba, Maggie Wu.