Cloud leaders Amazon, Google and Microsoft show the once-booming market is cooling down
Publishing timestamp: 2023-02-04 09:00:01
Summary
The top three U.S. cloud infrastructure providers reported in their fourth-quarter results that businesses are looking for ways to trim cloud costs. Amazon, Microsoft and Alphabet all reported deceleration in their respective businesses. Amazon Web Services and Google Cloud showed revenue for fourth quarter that was below analysts' estimates. Microsoft's Azure unit is second in cloud infrastructure to AWS and reported a slowdown in growth. Despite this, industry experts are expecting the category to grow overall by 26.8% in full year.
Sentiment: NEUTRAL
Keywords: business, breaking news: technology, alphabet class a, technology, amazon.com inc, business news, enterprise, jeff bezos, microsoft corp,