"Despite these unusual times, we remain focused on the long term, on fulfilling our mission, and on creating true value for our consumers and business customers." Alibaba's U.S.-listed shares were marked 1.65% lower in early trading following the earnings release to change hands at $256.49 each, a move that trims the stock's year-to-date gain to around 21%. Cloud computing revenues rose 59%, Alibab said, to $1.75 billion, "primarily driven by increased revenue contribution from both our public cloud and hybrid cloud businesses, reflecting higher average revenue per customer' as the group continues to challenge the global market dominance of Amazon's ( AMZN ) AWS and Microsoft's ( MSFT ) Azure. "It's easy to be blasé about Alibaba posting revenue growth of 34% in the pandemic, but it's important to remember that Alibaba sells goods each year to the value of the GDP of the Netherlands," said Martin Garner, COO of CCS Insight.