On 30 June Alibaba reports impressive quarterly results, especially boosted by its ecommerce and cloud computing businesses. It reported revenue of 114.92 billion yuan (US$16.74 billion), an increase of 42% year-over-year (compared to 61% year-on-year revenue growth for the same period 2018). It reported non-GAAP diluted earnings per share (EPS) of 12.55 yuan versus 10.25 yuan expected. Its cloud computing revenue grew 66% in the last year, including 85% in China compared with an annual growth rate of 16% for the broader industry. Alibaba Cloud is the 4th biggest cloud company globally with over 40% of the market in China. Following a US$25bn IPO in New York (2014), Alibaba is expected to raise up to US$20bn in a planned secondary listing in Hong Kong. With 86% of ecommerce revenue and over half of total sales derived from China, it is largely unaffected by trade disputes with the US.
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