Alibaba Group Announces December Quarter 2020 Results


Dubai-UAE: Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, “Alibaba” or “Alibaba Group”) announced its financial results for the quarter ended December 31, 2020.

Alibaba Cloud is the digital technology and intelligence backbone of Alibaba Group – the company empowers the digital transformation of enterprises by providing comprehensive technology solutions and services in the cloud for a wide range of industries. In the December quarter, cloud computing revenue grew 50 percent year-over-year to RMB16,115 million (US$2,470 million), primarily driven by robust growth in revenue from customers in the Internet and retail industries and the public sector. For the first time, Alibaba Cloud achieved positive adjusted EBITA during the quarter due to the realization of economies of scale.

During the 11.11 Global Shopping Festival, Alibaba Cloud provided a highly scalable, reliable and secure public cloud infrastructure, which at its peak processed 583,000 orders per second. Since Alibaba Cloud migrated their e-commerce businesses onto the public cloud a year ago, these businesses are now able to seamlessly create, upgrade and deploy on a cloud native approach; and this capability was especially important during the festival, helping the company to improve operating efficiency and ensure business continuity.

Alibaba Cloud continues to invest in research and development of leading cloud technologies to help their customers undertake digital transformation and enable the growth of their businesses. The company’s proprietary technologies have consistently won recognition from leading research and advisory organizations such as Gartner and Forrester. For example, according to Gartner’s November 2020 report, among the large-scale global cloud providers, Alibaba Cloud is the only Chinese company with the Leader ranking for database management system under Gartner’s Magic Quadrant measurement.

About Alibaba Cloud:

Established in 2009, Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, is among the world’s top three IaaS providers, according to Gartner. It is also the largest provider of public cloud services in China, according to IDC. Alibaba Cloud provides a comprehensive suite of cloud computing services to businesses worldwide, including merchants doing business on Alibaba Group marketplaces, start-ups, corporations and public services. Alibaba Cloud is the official Cloud Services Partner of the International Olympic Committee.