Alibaba Group Holding Ltd.’s forecast for 45 to 49 percent 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 percent that analysts projected on average.
To reflect its increasingly diverse customer base, Alibaba will start reporting active consumers as opposed to just buyers, Chief Financial Officer Maggie Wu said during the company’s annual investor-day conference Thursday. It will begin to disclose “customer management revenue” instead of just online marketing, to reflect sales from serving a broader base of advertising platforms.