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Home > Cloud Computing > Alibaba Cloud announces first profitable quarter after 12 years of operation

Alibaba Cloud announces first profitable quarter after 12 years of operation

Alibaba Group reported the first profitable quarter for its cloud business after 12 years of operation.

Seda Nur Cinar by Seda Nur Cinar
February 3, 2021
in Cloud Computing
1 min read
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Alibaba Cloud announces the first profitable quarter for its cloud business
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Alibaba Group‘s cloud unit, known as Aliyun, achieved revenues of RMB 16.1 billion ($2.4 billion) for Q4 2020. Although it reports operating losses at RMB 2 billion ($309 million), it’s adjusted EBITA for the quarter was RMB 24 million ($3 million).

An important player in cloud computing

Alibaba Cloud is an important player in cloud computing and artificial intelligence, providing services to thousands of enterprises, developers, and government organizations in more than 200 countries and regions since 2009. For the first time, Alibaba Cloud achieved positive adjusted EBITA during the quarter due to the realization of economies of scale.

Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group
Daniel Zhang, Chairman and Chief Executive Officer, Alibaba Group

Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group, said,

“China was the only major economy to achieve positive GDP growth last year. Thanks to the rapid recovery of China’s economy, Alibaba had another very healthy quarter. We achieved another successful 11.11 Global Shopping Festival by stimulating consumption, satisfying consumer demands and supporting the business recovery of merchants in response to the impact of the pandemic. Our cloud computing business continues to expand market leadership and show strong growth, reflecting the massive potential of China’s nascent cloud computing market as well as our years of investment in technology.”

Alibaba Cloud continues to invest in the research and development of cloud technologies to help its customers undertake digital transformation and enable the growth of their businesses.

See more Cloud Computing News


Tags: Alibaba CloudDaniel Zhang
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Seda Nur Cinar

Seda Nur Cinar

Seda Nur Cinar is the news editor of the Cloud7 News. With more than 8 years of Linux and cloud experience, Seda is a Linux and opensource enthusiast, security researcher and a web application developer.

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