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2023-01-23 15:03:55

Microsoft, Amazon results to highlight softening cloud business

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Channel NewsAsia
By Cna

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Slower cloud spending by inflation-hit businesses is expected to stall the sales momentum at Amazon.com Inc and Microsoft Corp and add to the troubles of the sector that laid off thousands this month.

After years of blistering growth, most recently fuelled by remote working and studying during the pandemic, cloud demand has cooled in the past nine months and sales growth may slow further, analysts said.

End-user cloud spending for services including those from the world's largest providers - Amazon Web Services (AWS) and Microsoft's Azure - is expected to grow 20.7 per cent this year after 18.8 per cent growth in 2022 and 52.8 per cent in 2021, according to research firm Gartner.

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