Alibaba Earnings Preview: Trends We Are Watching

We think these quarterly results could see some impact from Alibaba's efforts to restrict the sale of counterfeit products on its marketplaces. In addition, the growing share of mobile platform in the overall GMV will further weigh on top-line growth due to lower monetization rate on mobile devices. At the same time, we expect the profitability to decline in the quarterly results due to heavy growth in expenses with acquisitions of new businesses and investments in growth strategies.