Chinese internet giant Alibaba has reported revenues from its cloud business of $ 710 m for Q1 to June 2018 , a 67% increase on the previous year . The figures follow the recent launch of nine cloud products, including Apsara Stack , Machine Learning Platform for AI and Alibaba . However, Alibaba 's cloud investments prompted a loss in adjusted EBITA margins of $74m for the business division. The figures also revealed core commerce remained the lynchpin of the company, responsible for 67% of its total $12.22bn revenue, and increasing 67% in the previous year to $10.45bn.
Chinese internet giant Alibaba Group has reported revenues from its cloud business of $710m for Q1 to June 2018, a 93% increase on the previous year. The figures follow the recent launch of nine cloud products, including Apsara Stack, Machine Learning Platform for AI and Anti-Bot Service. However, Alibaba's cloud investments prompted a loss in adjusted EBITA margins of $74m for the business division. The figures also revealed core commerce remained the lynchpin of the company, responsible for 67% of its total $12.22bn revenue, and increasing 61% in the quarter to $10.45bn.