Alibaba’s cloud division hits US$1.151 billion in quarterly revenue

Alibaba Group reported that its cloud computing division generated revenue of RMB 7.726 billion (US$1.151 billion) during the March quarter, up 76% over the same period last year. Adjusted EBITA margin for the division was (2%). Adjusted EBITA was a loss of RMB 164 million (US$24 million).

The company said growth in cloud computing was primarily driven by an increase in average spending per customer.

Cloud computing now represents 8% of Alibaba Group’s overall revenues.

For all of 2019, Alibaba Group reported an 84% growth in revenue for cloud computing for a total of RMB 24.702 billion (US$3.681 billion), with an Adjusted EBITA Margin of (5%).

https://www.alibabagroup.com/en/ir/presentations/pre190515.pdf