Alibaba Group Holding Ltd. said that revenue growth will accelerate this fiscal year as China’s largest e-commerce company provided its first financial forecast since going public in 2014.
The company predicts sales will rise at least 48 percent in the year ending March 2017 as it pushes into new markets and businesses beyond e-commerce. Part of that growth comes from Alibaba’s rapid deal-making: it spent about $18.7 billion on acquisitions and stock buybacks over the past year, including on e-commerce site Lazada Group SA.
