Markets

Breakdown of the latest developments on the global exchanges
Aug 12, 2019, 12:00 PM GMT
#EarningsSeason

Alibaba Reporting Earnings on Thursday

Alibaba Group Holding Limited is scheduled to report earnings data for the fiscal quarter ending in June 2019 this Thursday before the market close. The company is anticipated to deliver a very strong report, which investors and shareholders expect to boost the share price of Alibaba.

Market analysts have reached a consensus in regards to the forecasted EPS performance, which is now projected to reach $1.13. If this is realised, then Alibaba would have performed markedly better in 2019 when compared to the $0.66 earnings per share for the same quarter last year. Moreover, such results would also substantially outperform the reported EPS for the previous quarter of 2019, which have reached $0.88.

The share price is currently trading at $157.10, which is just above the fundamentally important support level of 154.71. The same level is also a major Fibonacci retracement level of 61.8 per cent.