Dubai, United Arab Emirates: Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, “Alibaba” or “Alibaba Group”) announced its financial results for the quarter ended September 30, 2020.
“Alibaba had another strong quarter. We continued to help businesses recover and find new opportunities for growth through digitalization in the post-pandemic landscape. The solid performance of our core commerce and robust growth of Alibaba Cloud are the direct results of our commitment to value creation for customers,” said Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group. “We remain focused on our three long-term growth engines – domestic consumption, cloud computing and data intelligence, and globalization – to effectively capture opportunities from the ongoing changes in consumer demand and acceleration of digitalization of businesses across our digital economy.”
Alibaba Cloud empowers the digital transformation of enterprises by providing comprehensive technology solutions and services in the cloud for a wide range of industries. In the September quarter, cloud computing revenue grew 60 percent year-over-year to RMB14,899 million (US$2,194 million), primarily driven by growth in revenues from customers in the Internet, finance and retail industries.
Customers across all sizes and industries continued to enjoy Alibaba Cloud’s products and services. As of September 30, 2020, approximately 60 percent of A-share listed companies are customers of Alibaba Cloud, and their average spending grew 45 percent year-over-year in September 2020.
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.