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Amazon's AWS revenue grows by 39%, and the growth rate of its cloud service competitors is also accelerating
CNBC
1h ago
Ai Focus
Amazon's cloud computing division, AWS, reported revenue of $45.98 billion in the third quarter, a year-on-year increase of 39%, exceeding analysts' expectations of $45.29 billion; operating profit was $17.77 billion, also above market expectations. Amazon stated that during the quarter, it expanded its NVIDIA GPU product portfolio capable of handling AI workloads, acquired data analytics startup DuckLabs, and also signed agreements with Meta and OpenAI.
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Amazon's cloud computing division reported that growth in the third quarter was faster than analysts expected.

According to the statement, AWS's revenue for the quarter was $45.98 billion, a year-on-year increase of 39%, which is higher than the expected $45.29 billion cited by analysts in the StreetAccount survey. The growth rate for the second quarter was approximately 37%.

In terms of revenue, Amazon remains the largest cloud service provider, but competitors Alphabet and Microsoft are also seeing accelerated growth. Alphabet stated on Wednesday that Google Cloud's revenue in the third quarter, which includes infrastructure and Google Workspace subscription services, more than doubled.

Major cloud service providers have been competing to build data centers to meet the growing demand for artificial intelligence. Amazon stated that this quarter, AWS announced plans to expand its NVIDIA graphics processor product portfolio to support AI workloads.

According to the statement, AWS also acquired the data analytics startup DuckLabs, and signed agreements with Meta and OpenAI.

AWS's third-quarter operating profit was $17.77 billion, a year-on-year increase of 55%, which also exceeded the $16.97 billion that StreetAccount had consistently anticipated.

This business currently accounts for nearly 23% of Amazon's total revenue, setting a record.

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