Page 8 - Cloud Intelligence Group News Today

Alibaba Group Holding has announced it will not proceed with a full spin-off of its cloud computing unit, as it posted 9% growth in revenues in the September quarter, in its first earnings report since new leadership took over the Chinese e-commerce giant in September, reports the South China Morning Post. The Hangzhou-based company said that…

Alibaba will maintain its cloud business after all

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Alibaba shares fell almost 10% in Hong Kong trading, following a day of bad news for the Chinese e-commerce giant.

US finally gets a hit with its sanctions Alibaba has cancelled its IPO of its cloud division because it expects trouble due to a chip shortage caused...

The company has sharpened its focus on a wholesale marketplace, second-hand goods trading platform, office chat app, and search and cloud storage solution

By Hanna Ziady, CNN

Alibaba Group saw its revenue increase 9 per cent year over year to US$30,810 million for the quarter ended September 30.

Alibaba lost more than $21 billion in market cap off the back of its ill-fated cloud spinoff plans, according to CNBC calculations of data from FactSet.

Alibaba Group stunned investors when it announced that it would suspend the listing plan of its cloud computing unit, while also revealing that cofounder Jack Ma intends to sell some of his shares.