Alibaba’s cloud business exited the fourth quarter nearing a $4 billion annual revenue run rate.
The Chinese e-commerce giant said its cloud computing business saw revenue jump 84 percent in the fourth quarter to $962 million. Cloud computing is now 6 percent of Alibaba revenue, up from 4 percent in the fourth quarter a year ago.
Overall, Alibaba reported fourth quarter revenue of $17.05 billion, up 41 percent from a year ago, with net income of $4.5 billion.
Alibaba’s e-commerce business drives the company, but the company has built a cloud business that rhymes with what Amazon has done with Amazon Web Services.
