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Alibaba’s cloud growth hits slowdown after loss of top customer

May 13, 2021

Via: ZDnet

Alibaba posted a rare operating loss in its March quarter following a 7.66 billion yuan fine levied by Chinese regulators related to the government’s anti-monopoly law. Alibaba was hit with the antitrust probe back in January, with regulators looking into allegations of monopolistic behavior, including “forced exclusivity” demands imposed on merchants.

Outside of the fine, Alibaba’s results were mixed, with the company reporting slower growth in its cloud business following the loss of a top customer in the Internet industry. The Chinese e-commerce giant said cloud computing revenues climbed 37% to $2.58 billion.

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