Alibaba cloud growth outpaces Amazon and Microsoft as Chinese tech giant pushes for profitability

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GUANGZHOU, China — The growth of Alibabas cloud business outpaced Amazon and Microsoft in the quarter ending in September, and the Chinese tech giant reiterated its commitment to making the unit profitable by next March. That was faster than Amazon Web Services 29% year-on-year revenue rise and Microsoft Azures 48% growth in the September quarter. Alibaba CEO Daniel Zhang said that public sectors and financial services contributed the highest growth to the companys cloud division. In September, Alibaba chief financial officer Maggie Wu said the companys cloud computing business is likely to become profitable for the first time in the current fiscal year. "As I talked about during the Investor Day, we do not see any reason that for the long‑term, Alibaba cloud computing cannot reach to the margin level that we see in other peer companies.

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