Alibaba Cloud revenue surges 58% to $1.7 bn in March quarter

Alibaba announced that its Cloud computing revenue rose 58 percent for the March quarter to RMB12.2 billion or $1.7 billion.
alibaba-cloud-businessAlibaba Cloud revenue for fiscal 2020 grew 62 percent to RMB40 billion or $5.7 billion, primarily driven by increased revenue contributions from the public cloud and hybrid cloud businesses.

Alibaba is the largest cloud computing service provider in the Asia Pacific region measured by market share for IaaS (Infrastructure as a Service) and IUS (Infrastructure Utility Service), according to Gartner (April 2020).

Alibaba said its total revenue rose 22 percent to RMB114.3 billion or $16.1 billion, driven by solid revenue growth of China commerce retail business and robust cloud computing revenue growth in the March quarter.

Alibaba’s total revenue in fiscal 2019-20 rose 35 percent to RMB509.7 billion or $72 billion.

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