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 . The most important point, however, is that the strength of China domestic demand is critical to the stability of the Chinese economy and market confidence." 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 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.