Alibaba Group Cloud Computing Revenue Results: Net Profit Jumps 1.18 Billion Straight
Alibaba Group Cloud Computing Revenue Results: Net Profit Jumps 1.18 Billion Straight HANGZHOU, China — Alibaba, a leading Chinese cloud business announced its results for the quarter ended June 30, 2021, sales were up 103 percent after 12 years of operation.
Amazon has launched its internal cloud division. It’s estimated that the division will earn at least $2.4 billion annually within 5 years. Global technology giants such as Google, AWS, Microsoft, and others have dominated the cloud market for many decades.
Alipay’s cloud computing arm continues to serve multiple businesses. It has increased its presence in Asia and elsewhere. Its business growth is primarily driven by the immense increment in the total number of cloud users, retailers, and public sectors.
The company also announced an upward revision to EBITA for the last two quarters for the first time, which was due to the increasing size of their customer base. As IaaS is becoming an important part of business plans, cloud computing companies like Amazon can see a spike in growth at the beginning of the year.
Alibaba became a $1 billion company in Q1 of 2021 by acquiring a billion new customers around the world. This was the largest milestone in Alibaba’s history, and it’s evidence of the company’s growing global reach.
We’re growing very rapidly. All of our businesses are growing. We have such big achievements because our values are aligned and our foundation is solid.
In China’s consumption economy, we have always been very excited about its rapid growth. We will continue to focus on the best user experience and services with our innovative technologies, which includes developing artificial intelligence, Big Data, Internet of Things and more.” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group.
Amazon is growing very fast because of its cloud services, which is the reason for Alibaba’s growth. The company has reported the highest revenue of $9.87 billion, which is more than 61% from the last year.
The core commerce business grew by 62 percent, and disclosed the bulk of its total revenue.
Business Highlights Incoming in the Second Quarter Ended June 30, 2021
The income was accounted for as RMB 205,740 million (US$31,865 million), expanding at the pace of 34%.
Alibaba serves over 1.18 billion dynamic purchasers all around the world.
The complete pay from the business tasks was accounted for at RMB30,847 million (US$4,778 million), which diminished by 11% over the course of the year.
The net money conveyed by activities was RMB33,603 million (US$5,204 million). The Non-GAAP free income diminished to RMB20,683 million (US$3,203 million) when contrasted with a similar quarter of 2020 (RMB36,570 million).
Alibaba Cloud is Growing So Fast But Still Can’t Beat Azure and AWS?
Alibaba Cloud is an up-and-coming cloud computing company. It started in 2006 and offers an API for developers to create web applications, mobile apps and IoT solutions on its cloud infrastructure.
Alibaba Cloud is the biggest cloud service provider in China and the fourth largest cloud provider in the global market. In addition, with 6% of the global cloud service market, Alibaba Cloud overtook 5% of Google’s existing cloud service market.
There’s an increasing number of people who have been searching for products on Google lately, but what they find on the search results page is not what they were looking for. That’s why the company is now launching Google Cloud Retail Search, which is meant to solve the problem.