Amazon Web Services, the company’s division for cloud computing, saw its revenue growth slow down in the fourth quarter as businesses continued to implement cost-cutting measures as a result of the macroeconomic environment.
Despite revenue growing 20% year over year to USD 21.4 billion in Q4 2022, this growth rate is lower than the third quarter’s growth of 27.5% and the second quarter’s growth of 33%. For the next two quarters, or at least the first half of the fiscal year 2023, AWS anticipates the slowdown in customer spending to continue.
Similar declines in consumer spending have been reported by Microsoft and Google, which compete with AWS for market share in cloud computing and are having an impact on the expansion of their individual cloud businesses.
Read More: AWS growth slows further by persistent macroeconomic uncertainty
Check Out The New Enterprisetalk Podcast. For more such updates follow us on Google News Enterprisetalk News.
The Enterprise talk Bureau has five well-trained writers and journalists, well versed in B2B enterprise technology industry, and constantly in touch with industry leaders for the latest trends, opinions, and other inputs- to bring you the best and latest in the domain.
