Amazon Cloud Revenue Misses Estimates For Third Straight Quarter, Growth Slows As AWS Trails Microsoft Azure And Google Cloud

Benzinga

Amazon Web Services reported $29.27 billion in first-quarter revenue, missing analyst estimates and marking its third consecutive revenue shortfall, according to CNBC. Growth slowed to 17% from 18.9% in the prior quarter, trailing Microsoft’s stronger Azure results and Google Cloud’s near-consensus performance. Amazon CEO Andy Jassy told shareholders that AI costs for customers are expected to decline over time. He attributed this partly to Amazon’s custom chips, which serve as alternatives to Nvidia GPUs.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Amazon Web Services reported $29.27 billion in its first quarter revenue,

00:06missing analyst estimates of marking its third consecutive revenue shortfall now,

00:10according to CNBC.

00:11Growth slowed to 17% from 18.9% in the prior quarter,

00:15trailing Microsoft's stronger Azure results and Google Cloud's near consensus performance.

00:20Amazon CEO Andy Jassy told shareholders that AI costs for customers are expected to decline over

00:25time. He attributed this in part to Amazon's custom chips, which serve as alternatives to

00:29NVIDIA's GPUs.

00:31For all things money, visit Benzinga.com slash GSTV.

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