|Alibaba forecasts monster revenue growth|
Jun. 8, 2017 4:42 AM ET|About: Alibaba Group Holding Limited (BABA)|By: Yoel Minkoff, SA News Editor
Alibaba (NYSE: BABA) is forecasting 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 Maggie Wu.