Lates News

Amazon's cloud business has seen its growth rate fall below expectations for the third consecutive quarter in the first quarter. Amazon Web Services (AWS) revenue grew by 17% to $29.27 billion, while analysts surveyed by StreetAccount had expected $29.42 billion. This growth rate is slightly slower than the 18.9% seen in the fourth quarter of last year. AWS is the largest cloud infrastructure provider in the world, with its revenue accounting for approximately 19% of the total revenue of its parent company. Its biggest competitor, Microsoft, announced strong growth and guidance for the first quarter of its Azure cloud business that exceeded market expectations on Wednesday. Meanwhile, Google, the third-ranked cloud computing provider, reported slightly lower revenue last week compared to general market expectations.