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Key Information on Alibaba Group
Alibaba Group Holding (NYSE: BABA), with a market capitalization of $375 billion, is the fourth-largest cloud computing provider, holding a 4% market share in the global cloud landscape dominated by Amazon, Microsoft, and Alphabet. Despite being smaller, Alibaba’s Cloud Intelligence Group reported a revenue of $5.59 billion in the September quarter, marking a 34% year-over-year increase.
In the same period, Alibaba’s e-commerce division generated $14.46 billion in revenue, up 9% from the previous year, and a combined revenue from “quick commerce” increased to $18.62 billion, up 16%. The company’s growth is attributed to its significant operations in China, where it holds a 35.8% share of the fast-growing cloud computing market, and its anticipated revenue growth of 9% for the next fiscal year is expected to outperform Amazon’s projected 1.45% growth.
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