CNBC April 30, 2023
Key Points
– Earnings reports last week from Amazon, Google and Microsoft showed that clients are still looking for ways to trim their spending.
– Year-over-year growth at Amazon Web Services slowed to 16% from 20% in the fourth quarter.
– “What we’re seeing is enterprises continuing to be cautious in their spending in this uncertain time,” Amazon CEO Andy Jassy said on the earnings call.
The cloud-computing market keeps growing as companies move an increasing number of workloads out of their own data centers, but executives from the leading cloud vendors said this week that clients are looking for ways to trim costs.
The result is slowing revenue growth at the cloud divisions run by Amazon, Microsoft and Google....
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