UPDATE 2-Alibaba expects consensus-beating 2009; shares up

martedì 15 dicembre 2009 09:19

* Says 2010 profits will exceed this year's levels

* Sees China foreign trade improving through Q1 2010

* Looking for domestic, cross-border investments

* Alibaba shares reverse losses, up 2 pct in soft mkt (Adds analyst comment, update share price)

By Alison Leung

HONG KONG, Dec 15 (Reuters) - Alibaba.com expects its 2009 profits to beat consensus expectations, its chief executive said on Tuesday, sending shares in China's largest e-commerce company higher.

Next year's profit is also expected to top this year's level in anticipation that China's foreign trade will revive, David Wei told reporters in Hong Kong.

"The spring is definitely coming, although there may be a cold breeze in between," he said.

The average earnings forecast for Alibaba is at 1.0 billion yuan ($146.5 million) for 2009 and 1.56 billion yuan for 2010, from 17 analysts polled by Thomson Reuters I/B/E/S. The company made 1.2 billion yuan in 2008.   Continua...