Alibaba Cloud revenue surges 29% to $2.4 bn in June quarter

Alibaba said its cloud computing revenue grew 29 percent to RMB16,051 million or $2.486 billion in the June 2021 quarter driven by robust growth in revenue from customers in the Internet, financial services and retail industries.
Alibaba Cloud revenue growth began to moderate since the last quarter primarily because of revenue decline from a top cloud customer in the Internet industry that has stopped using overseas cloud services with respect to their international business due to non-product related requirements.