Amazon, Google and Microsoft each reported their cloud earnings results for the first quarter of 2023, with all three cloud giants reporting double-digit sales growth and positive operating income for the first time ever.
Amazon, led by its cloud arm Amazon Web Services (AWS), Microsoft's Azure cloud unit, and Google's cloud business Google Cloud are the three largest cloud computing companies on the planet.
Combined, these three cloud giants won roughly two-thirds of the massive $63bn global cloud infrastructure services market during the first quarter of 2023, according to new market share data from Synergy Research Group.
"There has been some angst about declining cloud growth rates, but the Q1 worldwide market value grew by more than $10bn compared with the first quarter of 2022," said John Dinsdale, chief analyst at Synergy Research Group, in a statement.
"Clearly the relatively weak economy has caused some enterprises to more closely review spending on cloud services, but the market continues to grow despite those challenges."
AWS, Microsoft, Google Cloud's Q1 earnings
AWS, Microsoft and Google reported financial earnings for the first three months of 2023 ending March 31.
While it was officially AWS and Google Cloud's first quarter of 2023, it represented Microsoft's fiscal 2023 third quarter. It is key to note that Microsoft doesn't provide sales figures for its public cloud Azure business. Instead, Microsoft includes Azure revenue as part of its Intelligent Cloud segment.
CRN breaks down the cloud computing financial results for AWS, Microsoft and Google Cloud in terms of: total revenue, year over year sales growth, operating income, global market share, as well as their parent company's overall results. Here's what channel partners, customers and investors need to know when comparing Q1 2023 results from AWS, Microsoft Azure and Google Cloud.