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. e-commerce salesAlibaba 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.