Microsoft, Intel and Amazon released their quarterly results last week, all pointing to their respective cloud computing service platforms as a key reason for their positive results.
Amazon’s Web Services unit grew at a rapid pace, with sales up 42% to $4.58bn, whilst Microsoft’s cloud computing saw even better results, with its Azure sales up 93% in Q3 alone.
With more and more firms looking to digitise their operations, and with cloud computing playing a vital role in digital transformation, the market has continued to grow at a significant rate.
“Our results reflect accelerating innovation and increased usage and engagement across our businesses as customers continue to choose Microsoft to help them transform,” said Satya Nadella, Chief Executive Officer at Microsoft.
Such results played a large part in the positive overall results of all three of the technology giants, with Amazon’s share price up 13% and Microsoft’s up 6%, whilst Intel’s also rose 7%.
In the wake of such results, it is clear to see why Google and Cisco have recently announced a partnership that will see the two firms working together to create their own hybrid cloud solution.