- Alibaba Group Holding Ltd (NYSE:BABA) offered to provide a breakdown of its commerce segment in earnings, Reuters reports from its annual investor day presentation.
- Alibaba will break down the category into four sub-categories.
- China commerce includes its major domestic-facing e-commerce platforms.
- Related Content: Read Truist's Take On Alibaba Based On Annual Investor Day 1
- International commerce will include Lazada, AliExpress, and other overseas-facing sites. Local-based services will consist of Ele.me and mapping service's food delivery service, and Cainiao, its logistics division.
- CEO Daniel Zhang identified overseas business, poorer cities, and cloud technology among the company's prime growth drivers in the years ahead, Bloomberg reports.
- Alibaba is embarking on a period of sustained investment into the areas that could yield the most significant growth over the longer term, its domestically leading cloud division, local services such as food and grocery delivery, and logistics.
- Alibaba aims to serve 2 billion users globally eventually.
- Price Action: BABA shares traded higher by 1.19% at $121.68 on the last check Friday.
