Alibaba Cloud hits Q3 sales of US$825 million, up 90% yoy

In its Q3 financial report, Alibaba disclosed that its cloud computing revenue grew 90% year-over-year to RMB5,667 million (US$825 million), driven by improving revenue mix of higher value added services and robust paying customer growth. During the quarter, Alibaba Cloud launched over 600 products and features, including those related to big data analytics and AI application innovation, security, and IoT service enhancements.

Cloud computing now represents about 7% of Alibaba's overall corporate revenue, up from 5% a year ago.

In September, Alibaba Cloud launched Apsara 2.0, a major upgrade of its cloud computing operating system. Improvements include enhanced computation performance, flexible hybrid cloud implementation and more efficient network connections. With the upgrade, developers can leverage Alibaba Cloud IoT solutions to bring edge computing capability to connected devices at scale and seamlessly integrate with cloud networks.