29.01.2015 - Alibaba reduced profit
The stock price of Chinese online commerce service Alibaba decreases against the publication of the report for the last quarter of 2014. The company's revenue grew by 40% over the period. The company noted a significant increase in sales through mobile devices. We recall that the main problem for the company currently is the proceeding with the Chinese authorities regarding the sale of fake goods, bribery and illegal activity on the site. The number of customers in the quarter rose to 265 million against 217 million in the previous quarter. The company's revenues totaled 4.22 billion dollars, while profit fell to 964 million dollars, which is 28% less than the previous figure. Despite the current decrease in quotations, we recommend to wait for a signal to buy stocks after a substantial correction with the upside potential to 120-130 dollars per share.