Saturday, August 19, 2017

Alibaba's Q2 cloud revenue rises 96% to US$359 million

Alibaba Group reported that Q2 2017 revenue from cloud computing reach RMB2,431 million (US$359 million), up 96% year-over-year.

Alibaba said the number of paying customers of its cloud computing business grew to 1,011,000 from 874,000 in the previous quarter. Operating loss from cloud computing was RMB532 million (US$78 million) and adjusted EBITA loss was RMB103 million (US$15 million).


Alibaba Cloud is seeing improved revenue mix of higher valued-added services, as reflected by ongoing ARPU expansion.

The company says market expansion is its top priority. Some highlights for Q2:

  • Alibaba Cloud launched several new products that lower the barrier of migrating large-scale data to cloud services for traditional companies. For example, Cloud Storage Gateway allows customers to seamlessly connect their on-premise storage with Alibaba Cloud storage. Lightning Cube, a petabyte-scale data transport solution, helps enterprises to transfer large amounts of data at high speed between their data centers and Alibaba Cloud through portable storage appliances. 
  • Alibaba Cloud is expanding its Elastic Computing Service product portfolio. As of mid-August 2017, Alibaba Cloud is providing 19 types of Elastic Computing Service products that can be applied to 173 application scenarios, such as artificial intelligence, healthcare, video streaming, finance, e-commerce, and IoT.
  • Selected enterprise customers in China include: CITIC Group, a major state-owned multinational diversified company in China; China Huaneng Group, a fortune 500 company; PICC Finance, a subsidiary of PICC, one of the largest insurance companies in Asia.
  • Alibaba Cloud announced plans to build two new data centers in Malaysia and Indonesia, adding to its presence in over 14 countries and regions.


http://www.alibabagroup.com/en/ir/earnings

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