- Cloud technology giants AWS, Google Cloud and Azure have added 2 billion US dollars in cloud revenue in just three months
In the most recent earnings conference call, some of the world’s largest technology companies reported revenues that exceeded market analysts’ expectations. Amazon, Microsoft, and Google’s parent company Alphabet all reported $2 billion in net income, including collective cloud technology service revenue received in the last quarter alone.
Investment bank Stifel revealed its research, which has been cautious because the disappointing earnings of German software giant SAP depressed its stock price. “On Monday, we said,’Hey, you said [the third quarter] That’s great,” Stifel analyst Thomas Broderick said at the time.
However, the revenue of large cloud technology giants has calmed many markets, alleviating the concerns of the market and investors, and it seems that cloud technology is expected to become one of the largest sources of income in the past year. So, how can cloud revenue make so much money in just three months?
2020 has been hit hard by the pandemic and economic recession, but it has seen an almost universal direction to adopt digital alternatives for work and entertainment, and cloud technology services are usually at the forefront of this year.
Cloud technology giants AWS, Google Cloud, and Azure have added $2 billion in cloud revenue in just three months. Source: Shutterstock
Amazon said its market-leading cloud business, Amazon Web Services, generated $11.6 billion in revenue in the third quarter, a 29% increase from 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 increase in total revenue to its booming Azure cloud business. Even other smaller public cloud service providers (such as Twilio and ServiceNow) impressed shareholders with their performance in the third quarter.
Cloud communications provider Twilio is valued at US$41 billion, and its revenue for the third quarter of 2020 is US$448 million, nearly US$50 million higher than analysts’ forecasts. On the other hand, after the cloud technology service provider ServiceNow generated $1.15 billion in revenue in the third quarter, its stock price also rose by 2%, exceeding analyst expectations.
Generally speaking, the main reason for this year’s outstanding cloud performance is due to the impact of the pandemic in many ways, but especially for enterprises and other organizations that have already carried out large-scale cloud migrations because their workforce is at this scale. Remote operation. the first time.
Royal Bank of Canada analyst Alex Zukin said: “In the past, digital transformation was an option.” “Now, for many industries, this is no longer an option. Choice, this is a top priority.”
Joe Devanesan
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@thecrystalcrown
Joe’s interest in technology began as a child, when he first saw footage of the Apollo space mission. He still hopes to see the first person on Mars, or to see a Jetson-style flying car in his life.
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