Despite the click-click of belt tightening and the snip-snip of budget trimming, enterprise cloud spend continues to rise. It’s just not growing at the neck-breaking pace of recent years.
In part, that dynamic accounts for Amazon’s underperformance during the three-month period.
While the company saw year-over-year operating income cut nearly in half, to $2.5 billion in the third quarter, compared to $4.9 billion in Q3 2021, its cloud segment fared better — but not as well as anticipated.
