From Fox Business: 2024-05-13 11:48:00

Alibaba Group Holding Limited is set to report Q4 FY2024 results on May 14. Revenue estimate is $30.59 billion, up 1% YoY, with an earnings estimate of $1.24 per share, down 20.5% YoY. Positive trends include growth in International commerce and cloud services, while challenges exist in the China retail market and rising expenses.

Factors affecting Alibaba’s performance in Q4 FY2024 include macroeconomic headwinds in China affecting retail business, sluggish consumer spending, and escalating expenses from new initiatives. Positives include growth in International commerce and the Local Services Group, despite competition and industry challenges. Cloud services show promise in addressing rising demand.

Despite a Zacks Rank of Strong Sell and a positive earnings surprise prediction of +4.96%, Alibaba may not beat estimates this time. Stocks to watch with strong potential for earnings beats include NVIDIA, Abercrombie & Fitch, and Costco Wholesale. However, analyst models do not definitively predict a beat for Alibaba this quarter.

NVIDIA, with an Earnings ESP of +2.50%, is set to report Q1 FY2025 results on May 22. Abercrombie & Fitch, with an ESP of +5.10%, reports on May 29 for Q1 2024, while Costco Wholesale, with an ESP of +0.07%, reports on May 30 for Q3 FY2024. Stay informed with upcoming earnings announcements using the Zacks Earnings Calendar.



Read more at Fox Business: What You Need to Know Ahead of Alibaba’s (BABA) Q4 Earnings