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.
