Ahead of its IPO Alibaba released a report on its first quarter results, showing that revenue grew 39% from the year-ago quarter, down from 66% in the fourth quarter.
GMV for the Tmall site that competes with JD.com grew 90% from the year-ago quarter to RMB135 billion. The site saw GMV growth of 101% to RMB183 billion in the fourth quarter. The slower growth is contributing to JD.com's sell off.
Must read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts