Alibaba is expected to post its first decline in profit in one and a half years when the e-commerce giant announces its latest quarterly report.
Analysts are attributing the projected decline to the folding of Alibaba’s loss-making businesses as well as increased spending in its battle with rivals such as Tencent.
According to Bloomberg, the e-commerce giant’s revenue is still expected to climb 53% to RMB 59bn ($9.3bn), however the figure indicates the company’s smallest growth in nearly two years.
Alibaba’s investment in new initiatives is cited as a major contributor to the declining revenue, along with its decision to invest Read full story ›
Source: The Drum
Industry News