The annual revenue growth rate for Amazon’s cloud arm is continuing to slow, as enterprises look for ways to optimise the costs involved in running their IT estates off-premise, as evidenced by the e-commerce giant’s first-quarter results for 2023.
The revenue generated by Amazon Web Services (AWS) for the quarter covering the three months to 31 March 2023 reached $21.4bn, which is up 16% on the previous year. It did, however, suffer a year-on-year drop in profit from $6.5bn during Q1 2022 to $5.1bn this year.
