Alibaba’s annual cloud revenue has topped $2.1 billion for its fiscal year as fourth quarter sales were up 103 percent. The company reported its fourth quarter results on Friday and the e-commerce giant fared well. The cloud business for Alibaba, a leading infrastructure as a service player in China, delivered fourth quarter cloud computing revenue of $699 million, or a nearly $2.8 billion annual run rate.
Alibaba noted that its fourth quarter cloud sales got a boost by customer additions and value added products. According to IDC, Alibaba has nearly 50 percent of the infrastructure as a service revenue pie in China.
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