Microsoft has momentarily passed Amazon in this one key area
That shift is going pretty well. In the company's earnings report for the quarter ended June 30, Microsoft says it had a $12.1 billion "run rate" in its commercial cloud products.
In English, that means that if you take the amount of money Microsoft is collecting on cloud contracts right now, and extrapolate it out over a full year assuming no growth or churn, it would generate $12.1 billion for the year.
By way of comparison, Amazon said on its Q1 earnings call that its cloud services were on a $10 billion run rate. Amazon is expected to post Q2 earnings on July 28.
Here's what Microsoft's cloud run rate looked like prior to the June quarter:
Statista
Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.
- Global stocks rally even as Sensex, Nifty fall sharply on Friday
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market