The start of the year showed that Google Cloud, Alphabet’s cloud services division, had the highest revenue growth during the first quarter of 2023 at a rate of over 28 percent.
Despite Google’s total revenue results for the first quarter of 2023 totaling $7.454 billion, representing 28 percent year-on-year growth, its competitors also reported increases.
For example, Microsoft had an increase in revenue from Cloud services for a total of 22 thousand 81 million dollars, after increasing 16.3 percent. This amount corresponds to Microsoft’s Intelligent Cloud division, which includes Azure, Microsoft SQL Server and Visual Studio, among others.
In the case of AWS, it reported revenues of 21.35 billion dollars in the first quarter of 2023, after a growth of 15.8 percent. It is the lowest rate among its peers.
What made the business of these companies grow was the inclusion of new solutions based on Artificial Intelligence (AI). Furthermore, comparing the three, Microsoft has the most profitable cloud operation, with an operating profit of 9.4 billion dollars in the first quarter of 2023which represents a growth of 12.93 percent year over year and an operating margin of 42.19 percent.
In the case of Google, the Cloud division reported an operating profit of $191 million for the first quarter of 2023, after losses of $706 million in 2022.
AWS had the lowest operating profit in the last couple of years, totaling $5.123 billion in the first quarter of 2023, representing a 21.4 percent drop from the same period in 2022.
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