It is no secret that e-commerce has greatly expanded this year. As brick and mortar retailers are slowly being pushed out by the likes of Amazon, another big name in online sales is making a case for itself as the best investment in the sector.
According to Reuters:
Alibaba Group Holding Ltd (BABA.N) hailed an “outstanding quarter” on Thursday as the Chinese firm beat forecasts with a 61 percent revenue rise driven by continuing e-commerce growth.
Business Insider says:
Alibaba shares gained as much as 4% premarket. They surged 111% this year through the market close on Wednesday.
This is an impressive showing by the Chinese company who have been Amazon’s stiffest competition across the Pacific. Investors are excited about Alibaba because of it massive potential to encompass the entire Chinese and greater Asian market.
Alibaba, whose Tmall and Taobao shopping platforms dominate online retail in China, saw revenues from its core e-commerce business hit 46.46 billion yuan, a 63 percent rise from the same quarter a year earlier.
With numbers like these, it looks like they are well on track to doing just that. Investors who are looking for an alternative to investing in Amazon should consider Alibaba as a solid alternative. With an equally large if not potentially larger market, Jack Ma’s company could be a great way to diversify and win big.
To read Reuters’ article on Alibaba’s great quarter, click here.
To read Business Insider’s article on Alibaba’s earnings, click here.
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