Under the supervision of the policymakers review committee, Amazon, Microsoft and Google increased their total cloud computing revenue by $2 billion in just three months

As the largest technology companies announce their earnings this week, many people expect to confirm that the Covid-19 pandemic has cemented cloud technology’s position as the world’s most profitable industry. However, some observers were uneasy after the German software giant SAP announced disappointing results on Sunday night and depressed its stock price.

“On Monday, we said,’Hey, you said [the third quarter] It will be really good. “Thomas Broderick, an analyst at investment bank Stifel, said.

These doubts are short-lived. The government’s hearings and the overall weakness of the stock market have not slowed the pace of the technology giants, most of the technology giants’ financial reports have exceeded analyst expectations. Large sums of money: US$2 billion. According to Stifel’s research, this is approximately Amazon, Microsoft and Alphabet on Thursday announced the combined total revenue of earnings, which was added together in cloud services in the last quarter alone.

Amazon said its cloud business, Amazon Web Services, generated $11.6 billion in revenue in the third quarter, a 29% increase over the same period in 2019. Alphabet reported that its Google Cloud Platform revenue increased by 45% to $3.4 billion. Microsoft attributed its 12% year-on-year total revenue growth to its booming Azure cloud business. Other cloud companies such as Twilio and ServiceNow also praised shareholders.

Such amazing performance is largely attributable to the impact of the Covid-19 pandemic on technology companies, stimulating their demand for cloud products that allow employees to connect with employees while working at home. RBC analyst Alex Zukin said: “In the past, digital transformation was an option.” “For many industries, this is no longer an option. It is a priority.”

The pandemic-driven boom has also helped other public cloud stocks. Twilio is a cloud communications provider with a market capitalization of US$41 billion. This quarter, it brought US-based technology companies to US$448 million in revenue, nearly US$50 million higher than analysts’ expectations. Cloud service provider ServiceNow rose 2% on Wednesday, the company generated 1.15 billion US dollars in revenue in the quarter, higher than expected.

Under the leadership of CEO Bill McDermott, who joined in October 2019, ServiceNow’s stock price has almost doubled; currently, the company’s market value is $94 billion. His success in the company may have caused pain for SAP. SAP was pressured by activist investor Elliot Management to curtail growth in recent months. McDermott left the company as CEO last year. On Sunday night, the German tech giant reported that the coronavirus lockdown had affected the demand for its business and customer management software. The result was SAP’s worst performance in more than a decade. Its stock price fell by 20% and its market value fell to 118 billion euros.

But it turns out that SAP is the exception, not the rule. For most companies, being in the cloud is a good thing. Stifel analyst Broderick said: “This week’s theme is “adaptation or death.”