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.
