Alibaba Cloud revenue surges 84% to $3.68 bn

Alibaba Cloud Computing revenue grew 76 percent to $1.151 billion during the March 2019 quarter, primarily driven by an increase in average spending per customer.
alibaba-cloud-businessAlibaba’s revenue from Cloud computing business rose 84 percent during fiscal year 2019 was $3.681 billion.

Alibaba Cloud served more than half of the A-share listed companies in China in fiscal year 2019. “We will continue to invest to further expand our market share by developing value-added products and features,” Alibaba said.

Alibaba Cloud launched major products in the areas of graph database, anti-bot protection, blockchain-as-a-service and real time communications during the March 2019 quarter.

“We continue to use our scale to lower the pricing of products and services in the areas of content delivery network, security, database and network infrastructure so that we are able to pass on cost savings to our customers.” Alibaba said.

Alibaba Cloud is the largest cloud computing service provider in Asia Pacific, as measured by market share for IaaS (Infrastructure as a Service) and IUS (Infrastructure Utility Service), according to Gartner report released in April 2019.

Alibaba’s Cloud computing segment reported Adjusted EBITA of –1,158 million yuan or $172 million in fiscal year 2019, compared to –799 million yuan in fiscal year 2018. Adjusted EBITA margin improved to negative 5 percent in fiscal year 2019 from negative 6 percent in fiscal year 2018, Alibaba said.

Related News

Latest News

Latest News