Alibaba (NYSE: BABA – see our Alibaba forecast) to report quarterly earnings before the market opens Friday and expectations are as high as double-digit growth according to an article featured on investors.com. The article states that analysts expect sales of 9.2 billion, up 64% from the year ago period.

Alibaba’s stock had a huge run from 2016 as the Chinese internet economy has been booming, the company managed to more than triple stock prices in this period from 65 USD to around 200 USD. There has been a slow decline from beginning of 2018, but since the company is about to publish its quarterly report we can expect a move soon enough. We will see a positive sentiment if the growth forecast are accurate.

Not long ago, at the end of 2017, Alibaba had a Singles Day shopping event held online where they managed to hit revenues of $13.2 bln up from $9.2 bln compared to a year earlier, which in itself shows significant growth in the Chinese sector.

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