Alibaba says its cloud computing business holds tremendous potential as China picks up pace on digitalisation drive

Alibaba Group Holding, which beat third-quarter estimates with the first profit in cloud computing, said the business holds tremendous potential to augment its core e-commerce operations. Alibaba Cloud posted it first profit before interest, tax and amortisation during the three months ended December, meeting the goal by the Hangzhou-based e-commerce behemoth for the financial year ending in March, and fulfilling the promise made by chief financial officer Maggie Wu last September. “Over the...