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Growth Slows for Cloud Giants AWS, GCP, Microsoft Azure

August 3, 2022

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Cloud service revenues are still growing at a fast pace after many organizations accelerated their digital transformation plans due to the pandemic. However, that accelerated pace may be slowing a bit as CIOs look at inflation and recessionary indicators, at least if you judge by the quarterly earnings announced by three of the big cloud providers last week — Amazon Web Services, Google Cloud Platform, and Microsoft Azure.

Keep in mind, these cloud providers are still growing at a fast pace, just not quite as fast as they had been. For instance, Amazon said that revenue from its cloud segment rose 33% in the second quarter over the previous quarter.

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