Alibaba cloud revenue surges 84% to $962 mn in Q3

Alibaba Group said its revenue from the cloud business rose 84 percent to 6.6 billion yuan or $962 million in the third quarter of fiscal 2018-19.
alibaba-cloud-businessAlibaba, the second most valuable public company in Asia after Tencent, has posted total revenue of 117.28 billion yuan or $17.47 billion, compared with 83 billion yuan a year earlier.

Alibba in November 2018 appointed Jeff Zhang as president of Alibaba Cloud, adding to his responsibility on top of his role as chief technology officer.

Revenue from core commerce increased 40 percent 102.843 billion yuan or $14.958 billion.

Revenue from digital media and entertainment increased 20 percent to 6.491 billion yuan or $944 million.

Revenue from innovation initiatives and others increased 73 percent to 1.333 billion yuan or $193 million.

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