Bigger cloud computing service providers, led by Amazon Web Services but also including Microsoft (MSFT) and Salesforce (CRM), continue to take market share from smaller rivals, says Goldman Sachs in a report. Amazon.com (AMZN) on July 23 posted a surprise Q2 profit as revenue at AWS, its cloud computing infrastructure business, popped 81% to $1.82 billion from the year-earlier period. It was only the second quarter that Amazon has broken out AWS
This earnings season, tech giants Amazon.com, Google and Microsoft curbed their spending to buck up their bottom lines. And Wall Street is applauding. Amazon.com (AMZN) posted a surprise second-quarter profit last Thursday in part because its costs were less than expected. Some analysts wondered if Amazon’s Q2 report is a sign that the company is starting to move away from years of heavy investing in its e-commerce and cloud
Amazon.com (AMZN) stock rocketed to an all-time high Friday, a day after the e-commerce leader posted a surprise second-quarter profit fueled by its booming cloud computing business. Amazon stock was up 15%, near 555, in morning trading on the stock market today. Earlier Friday, Amazon stock climbed as high as 580.57. Its previous record high was 493.20, reached on Monday. Amazon said it earned 19 cents a share in Q2 excluding items, compared with