Alibaba's forecast of revenue growth for the year ending in March 2018 of between 45% and 49% – more than analysts predicted – showed that the Chinese economy still enjoys strong support from online shoppers despite its other problems. Although this figure is less than the 56% growth the business reported in the coming year, it shows that Alibaba is expecting to maintain a fast pace of growth in fiscal year 2017. It also cited expectations of a surge in demand for digital advertising by merchants. Alibaba's shares, which trade in New York, rose to their highest point since the business went public three years ago.
Alibaba's forecast of revenue growth for the year ending in March 2018 of between 45% and 49% – more than analysts predicted – showed that the Chinese economy still enjoys strong support from online shoppers despite its other problems. Although this figure is less than the 56% growth the business reported in fiscal year 2017, it shows that Alibaba is expecting to maintain a fast pace of growth in the coming year. It also cited expectations of a surge in demand for digital advertising by merchants. Alibaba's shares, which trade in New York, rose to their highest point since the business went public three years ago.