Amazon Web Services (AWS) is back in the game with a robust 12% revenue growth during the third quarter of 2023. The driving force behind this resurgence is the soaring demand for generative AI-led services.
After facing declining growth for several quarters, AWS has found its stability. This impressive growth of $23.06 billion in the September quarter highlights the company’s resilience. Notably, this achievement occurred while AWS worked on customer cost optimization.
AWS’s operating income also rebounded, rising by 29% year-on-year. This resurgence can be attributed to prudent headcount reductions, controlled hiring, and cost management in areas such as infrastructure.
While AWS basks in this newfound stability, competitors are nipping at its heels. Google Cloud reported a 22% revenue growth in the September quarter, and Microsoft’s Azure and other cloud services achieved a remarkable 29% growth. AWS remains vigilant in defending its position as the largest public cloud provider in this dynamic and energized landscape.
