Alibaba Cloud turns profitable after 11 years
Alibaba Cloud, the cloud computing arm of Chinese e-commerce giant Alibaba, became profitable for the first time in the December quarter, the company announced in its earnings report.
The firm’s cloud unit achieved positive adjusted EBITA (earnings before interest, taxes, and amortization) during the quarter, after being in business since 2009. The milestone is in part a result of the “realization of economies of scale,” Alibaba said.
Alibaba Cloud, which...