I was happy about the topline growth. Because topline growth is very important, you cannot manufacture topline growth. And also the fact that volume may be down, I think that would actually be positive for pricing. I think, revenue's up, volume's down that means pricing is strong. That would not be evident of a slowing economy or slowing growth at all, in my view.
Ivan Feinseth, chief investment officer at Tigress Financial Partners
The stock is where it needs to be now. There was too much hype at the beginning, they were growing at unsustainable rates, then everybody got too discouraged as the growth slowed down. Now as they've stabilized at these 25-30 percent revenue growth, slightly less on earnings growth. They're trading at the mid-20s on earnings. And that's about a fair multiple. They've become more of a clean player. A good, fast-growing company that's tied to the Chinese consumer. So I think they're priced right now for the growth rates that they have.
Gil Luria, managing director at Wedbush Securities
Gross Merchandise Value (GMV) did grow 28 percent and we think this trend will probably continue for the rest of the year. Next year, we have currently low 20s percentage growth rate for them for the full year. But in general ... we think that e-commerce growth will stay. And this is a structural shift from offline to online. Alibaba continues to dominate in that space. And users coming from lower tier cities will help them drive the growth, and in general, in the long term, frequency of shopping and output increase as the quality of life improves will help drive revenue and profitability.
Cynthia Meng, managing director for China and Hong Kong TMT equity research at Jefferies
GMV essentially means total sales but because Alibaba is a pure marketplace player they're only making commission revenue, so really their revenue is only 3-4 percent of the total sales. In this quarter you can see that revenue growth outpaced the GMV growth because the take rate or monetisation rate improved unexpectedly.
Wendy Huang, head of Internet and media research for Asia at Macquarie