China’s Internet Boom Isn’t Slowing

Collectively, China’s Internet giants are growing even faster than their U.S. counterparts.

Some refer to China’s Internet giants as China’ s FANG stocks.

Alphabet Inc./Google (GOOGL) , Facebook Inc. (FB) and Amazon.com Inc. (AMZN)  have delivered impressive growth rates.  Even so, China’s three biggest Internet companies are managing to collectively outpace them.  And this trend has a good chance of continuing, at least over the short-term.

Alibaba Group Holding Ltd.  (BABA) and Tencent Holdings Ltd (TCEHY) have achieved spectacular growth and ever-expanding reach.  This has arguably make them China’s FANG stocks.  Each has delivered post-earnings gains in spite of facing very high bars.  Alibaba reported June quarter (fiscal first quarter) revenue of RMB50.18 billion.  This was equal to $7.4 billion.  This was up 56% annually.  Furthermore they delivered and adjusted EPS of $1.17.  This beat consensus analyst estimates of $7.13 billion and $0.93.

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