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Alibaba Cloud revenue reaches $1.5B for the quarter on 62% growth rate

Alibaba issued its latest earnings report yesterday, and as part of that the Chinese eCommerce giant reported that cloud revenue grew 62% to $1.5 billion U.S., crossing the RMB10 billion revenue threshold for the first time. Alibaba also announced that it had completed its migration to its own public cloud in the most recent quarter, a significant milestone because the company can point to its own operations as a reference to potential customers, a point that Daniel Zhang, Alibaba executive chai...
Tags: Travel, Google, Amazon, Cloud, Asia, Enterprise, Microsoft, China, Alibaba, Earnings, Reuters, Zhang, Synergy Research, Alibaba Cloud, Google Alibaba, Daniel Zhang Alibaba

Alibaba surges after beating on earnings and boosting its outlook for the year (BABA)

Alibaba on Thursday reported fiscal-second-quarter earnings that were better than analysts had expected, and raised its revenue outlook for the year.  China's largest ecommerce company reported adjusted earnings per share of 8.57 yuan, topping the forecast for 6.86 yuan according to Bloomberg.  Revenue totaled 55.12 yuan, more than the expectation for 52.05 yuan.  The company projected full-year revenue growth of 49%-53%, up from its earlier estimate of 45%-49%. It expects to gain from the acqui...
Tags: China, Trends, Tesla, Alibaba, Baba, Bloomberg Revenue, Daniel Zhang Alibaba