Amazon Cloud Business Growth Slows in First Quarter

According to Odaily, Amazon Web Services (AWS) reported a 17% increase in revenue for the first quarter, reaching $29.27 billion. This growth fell short of analysts' expectations, who had predicted $29.42 billion according to a StreetAccount survey. The growth rate has slowed compared to the 18.9% increase seen in the fourth quarter of last year. AWS, the largest cloud infrastructure provider globally, contributes approximately 19% to its parent company's total revenue. Meanwhile, its main competitor, Microsoft, announced first-quarter growth and guidance for its Azure cloud business that exceeded market expectations on Wednesday. Google's revenue, as the third-largest cloud computing provider, slightly missed market forecasts last week.