China's Alibaba Group Holding Ltd has posted a revenue of more than 59 percent for its cloud unit and 119.3 percent for its mobile product.

In the quarter ending June of this year, the Chinese company has earned 1.24 billion yuan for the cloud unit and 17.51 billion yuan for the mobile revenue.

Like Us on Facebook

According to China Daily, the Hangzhou-based company has banked on its cloud computing service as growth driver especially in this era wherein data storage has been among the most sought-after tech services.

Considering this, Alibaba's is looking at opening four overseas data centers in Japan, Europe, Australia and the Middle East by the end of 2016 in a bid to further reap higher revenue, a move it announced on Wednesday.

Apart from cloud, the performance of its mobile product in the market is also doing well.

"For the first time, the monetization rate from mobile devices exceeded that from personal computers," Alibaba's chief financial officer Maggie Wu said.

The monthly mobile active users of the company have grown by 39 percent.

According to Tiger Brokerage Group analyst Vinsan Wang, Alibaba's strong financial performance is proof of the initial success it has gathered by venturing into something beyond e-commerce.

"Its cloud computing is on the right track and growing rapidly," Wang explained. "After acquiring the Chinese video-streaming site Youku Tudou Inc, Alibaba also has a big presence in the media industry. But it will take longer time before the firm reaps fruit from the sector."

Meanwhile, Alibaba's CEO Daniel Zhang shared that "By offering smart and personalized services, we have changed the way 434 million active users interact with each other on our platform."

Alibaba's total revenue during the said quarter was 32.15 billion yuan ($4.84 billion). 

Tagschina, Alibaba Revenue, China's Alibaba