EMQQ comments on Alibaba’s results
Commenting on Alibaba’s quarterly and full fiscal year results, Kevin Carter, founder of EMQQ, the Emerging Markets Internet & Ecommerce ETF says: "The Chinese consumer is alive and well, and increasingly looking online to buy the goods and services they want. Revenue growth accelerated to 60 per cent and was strong in all segments of the company's business, while core Ecommerce revenue rose by 47 per cent, cloud revenue doubled, and media and entertainment revenue tripled. All of this is quite impressive, and the share buyback program is a positive piece of news as well."
Carter is an expert on the Emerging Markets Ecommerce space and founded EMQQ to address the fact that many of the key names in the fast-growing EM Ecommerce universe are not typically included in the legacy Emerging Markets equity ETFs or technology ETFs. EMQQ is up more than 30 per cent YTD and in addition to Alibaba, includes exposure to companies such as JD.com, Baidu, Naspers and Mercadolibre.