HONG KONG: Alibaba Group Holding Ltd’s forecast for 45%- 49% revenue growth this year topped analysts’ estimates, underscoring how heavy investments into businesses beyond its bread-and-butter of online shopping are paying off.
China’s largest e-commerce company has been venturing deeper into new areas from cloud computing services to streaming media as the country’s economy slows. Its revenue forecast compares with the 35% that analysts projected on average.
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