AWS Vs. Microsoft Vs. Google Cloud earnings Q2 2024 face-off

Here’s a head-to-head comparison of AWS, Microsoft and Google Cloud’s recent financial earnings results for second-quarter 2024, including revenue, sales growth, cloud market share and operating income

The results are in for the three largest cloud computing companies on the planet with Amazon Web Services, Microsoft Azure and Google Cloud each recently reporting their financial earnings results for the second quarter of 2024.

In total, these three cloud market leaders generated a total of more than $65bn in sales during the second quarter of 2024.

In addition, the global cloud services market share results are in for second-quarter 2024 with Microsoft, AWS and Google Cloud easily winning the top three spots. Combined, these three cloud titans captured 67 per cent share of the total cloud market.

CRN breaks down the total sales, operating income, cloud market share, revenue growth and parent company results for AWS, Microsoft and Google Cloud.

AWS Vs. Azure Vs. Google Cloud Platform by the numbers

Before jumping into the numbers, it's key to know how each company officially reports cloud sales. Each company's cloud results are primarily based on sales generated from their flagship platforms such as the Google Cloud Platform (GCP), AWS Cloud and Microsoft Azure.

AWS sales consists of global compute, storage, database and other services sales, while Google Cloud revenue includes infrastructure and platform services, Google Workspace collaboration tools and other services.

Microsoft's Intelligent Cloud includes server products, Azure and other cloud services. It does not include productivity sales, such as from Office 365, or sales from PCs like Windows. Microsoft's fiscal fourth-quarter 2024 results are in the same three-months span as calendar year second-quarter 2024.

Here are the quarterly cloud earnings results from AWS, Microsoft Azure and Google Cloud that you need to know about...

AWS Vs. Microsoft Vs. Google Cloud earnings Q2 2024 face-off

Here’s a head-to-head comparison of AWS, Microsoft and Google Cloud’s recent financial earnings results for second-quarter 2024, including revenue, sales growth, cloud market share and operating income

Total sales/annual run rate

Microsoft: $28.5bn/$114bn

AWS: $26.3bn/$105.2bn

Google Cloud: $10.3bn/$41.2bn

AWS generated a record $26.3bn in total sales during second-quarter 2024. This means AWS now has an annual run rate of $105.2bn.

Microsoft Azure revenue is included in the company's Intelligent Cloud group. Microsoft's Intelligent Cloud generated a total of $28.5bn in revenue, meaning the group has achieved a $114bn run rate.

Google Cloud generated $10.3bn during second-quarter 2024. This gives Google Cloud a $41.2bn annual run rate.

AWS Vs. Microsoft Vs. Google Cloud earnings Q2 2024 face-off

Here’s a head-to-head comparison of AWS, Microsoft and Google Cloud’s recent financial earnings results for second-quarter 2024, including revenue, sales growth, cloud market share and operating income

Sales growth

Google Cloud: 29 per cent

Microsoft Azure: 19 per cent

AWS: 19 per cent

Google Cloud's $10.3bn in sales during second-quarter 2024 represents a revenue increase of 29 per cent year-over-year compared with the $8bn in sales during second-quarter 2023.

Microsoft's Intelligent Cloud group reached $28.5bn, up 19 per cent, compared with $24bn year-over-year. Server products and cloud services sales increased 21 per cent year-over-year, while Azure and other cloud services revenue growth was up 29 per cent.

AWS sales of $26.3bn in second-quarter 2024 represents sales growth of 19 per cent year-over-year compared with $22.1bn in second-quarter 2023.

AWS Vs. Microsoft Vs. Google Cloud earnings Q2 2024 face-off

Here’s a head-to-head comparison of AWS, Microsoft and Google Cloud’s recent financial earnings results for second-quarter 2024, including revenue, sales growth, cloud market share and operating income

Cloud market share Q2 2024

AWS: 32 per cent

Microsoft: 23 per cent

Google Cloud: 12 per cent

Enterprise spending on cloud infrastructure services reached $79bn in second-quarter 2024, according to new data from market research firm Synergy Research Group.

AWS captured 32 per cent share of the global market during the second quarter of 2024.

Microsoft won 23 per cent share of the market, while Google cloud captured 12 per cent share.

AWS, Microsoft and Google have been the top three global cloud market share leaders since 2018, according to Synergy data. AWS has been No.1, followed by Microsoft at No.2, then Google at No.3 in terms of cloud market share.

AWS Vs. Microsoft Vs. Google Cloud earnings Q2 2024 face-off

Here’s a head-to-head comparison of AWS, Microsoft and Google Cloud’s recent financial earnings results for second-quarter 2024, including revenue, sales growth, cloud market share and operating income

Operating income

Microsoft: $12.9bn

AWS: $9.3bn

Google Cloud: $1.2bn

Microsoft's Intelligent Cloud group reported the largest operating income of the quarter at $12.9bn, up from $10.5bn year-over-year.

AWS, which is Amazon's most profitable business, reported operating income of $9.3bn. This is a major increase compared with $5.4bn in operating income during second-quarter 2023.

Google Cloud generated record operating income of $1.2bn, up from $395m year-over-year.

AWS Vs. Microsoft Vs. Google Cloud earnings Q2 2024 face-off

Here’s a head-to-head comparison of AWS, Microsoft and Google Cloud’s recent financial earnings results for second-quarter 2024, including revenue, sales growth, cloud market share and operating income

Parent company results

Amazon: $148bn

Google/Alphabet: $84.7bn

Microsoft: $64.7bn

AWS parent company Amazon generated $148bn during second-quarter 2024, an increase of ten per cent year-over-year compared with $134bn. Operating income for Amazon was $14.7bn, up from $7.7bn year-over-year.

Google Cloud parent company Alphabet generated $84.7bn in revenue during second-quarter 2024, an increase of 14 per cent year-over-year compared with $74.6bn. Google reported operating income of $27.4bn, up 25 per cent year-over-year.

Microsoft generated $64.7bn in revenue, representing a 15 per cent increase year-over-year compared with $56.2bn. Operating income for Microsoft was $27.9bn in total, an increase of 15 per cent year-over-year.

AWS Vs. Microsoft Vs. Google Cloud earnings Q2 2024 face-off

Here’s a head-to-head comparison of AWS, Microsoft and Google Cloud’s recent financial earnings results for second-quarter 2024, including revenue, sales growth, cloud market share and operating income

Satya Nadella, Andy Jassy and Sundar Pichai quotes

A major talking point for Amazon CEO Andy Jassy, Microsoft CEO Satya Nadella, and Google CEO Sundar Pichai was artificial intelligence and generative AI during each company's financial earning report. Here are the some of top quotes from each CEO.

Amazon CEO Jassy: "We're continuing to make progress on a number of dimensions, but perhaps none more so than the continued reacceleration in AWS growth," said Jassy. "As companies continue to modernise their infrastructure and move to the cloud, while also leveraging new Generative AI opportunities, AWS continues to be customers' top choice as we have much broader functionality, superior security and operational performance, a larger partner ecosystem, and AI capabilities like SageMaker for model builders, Bedrock for those leveraging frontier models, Trainium for those where the cost of compute for training and inference matters, and Q for those wanting the most capable genAI assistant for not just coding, but also software development and business integration."

Google CEO Pichai: "Our strong performance this quarter highlights ongoing strength in Search and momentum in cloud," Pichai said. "We are innovating at every layer of the AI stack. Our longstanding infrastructure leadership and in-house research teams position us well as technology evolves and as we pursue the many opportunities ahead."

Microsoft CEO Nadella: "Our strong performance this fiscal year speaks both to our innovation and to the trust customers continue to place in Microsoft," said Nadella. "As a platform company, we are focused on meeting the mission-critical needs of our customers across our at-scale platforms today, while also ensuring we lead the AI era."