Cloud Wars Heat Up as AWS, Azure and Google Cloud Report Strong Growth
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AWS reported strong 12% YoY revenue growth in Q3, seeing stabilization in growth rate and reduction in customer optimization. It remains optimistic about future growth potential.
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Microsoft Azure cloud revenue grew 24% YoY, exceeding estimates. It expects 26-27% constant currency growth in Q4, driven by consumption business and AI.
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Google Cloud revenue grew 22% YoY to $8.4B but missed estimates. Growth slowed but AI momentum increased, especially with startups.
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Overall public cloud market shows signs of accelerated growth after several quarters of shrinking growth rates.
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AWS remains leader but Microsoft Azure is gaining share. Google Cloud lags but shows enterprise traction, especially in AI.