Intel, Amazon and Microsoft released their quarterly results last week, all citing their respective cloud computing services as a key driver in their continual growth.
Whilst Amazon primarily looks to its ecommerce platform for the majority of its operations, the company’s Web Services unit also grew at a rapid pace, with sales up 42% to $4.58bn. Further, Microsoft’s Azure platform saw similar growth, with sales up 93% in Q3 alone.
Cloud computing is a key component of digital transformation, and as more firms increasingly look to digitise their operations, those offering the services have seen a significant rise in sales and growth.
“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.