Alibaba Cloud saw sales rocket in its Q2 as it continues to outpace the likes of Amazon Web Services (AWS) and Microsoft Azure.
Revenue for the period ending 30 September increased 60 per cent year on year to $2.2 million.
CEO Daniel Zhang said that organisations in the public sector and financial services sector made the biggest contribution to cloud growth.
“We announced at our investor day that Alibaba Cloud is expected to turn profitable by the end of this fiscal year. We believe cloud computing is a fundamental infrastructure in the digital area, but it is still in the early stage of growth. We are committed to further increasing our investments in cloud computing.”
Alibaba’s year on year growth is greater than the figures reported by AWS (29 percent) and Microsoft Azure (48 percent).
Analyst Canalys said that Alibaba to have six per cent of the global cloud infrastructure services market, with AWS out ahead with 32 percent.
