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 $65 billion 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 percent 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-monthsspan 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.

Total Sales/Annual Run Rate

Microsoft: $28.5 billion/$114 billion

AWS: $26.3 billion/$105.2 billion

Google Cloud: $10.3 billion/$41.2 billion

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

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

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

Sales Growth

Google Cloud: 29 percent

Microsoft Azure: 19 percent

AWS: 19 percent

Google Cloud’s $10.3 billion in sales during second-quarter 2024 represents a revenue increase of 29 percent year over year compared with the $8 billion in sales during second-quarter 2023.

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

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

Cloud Market Share Q2 2024

AWS: 32 percent

Microsoft: 23 percent

Google Cloud: 12 percent

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

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

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

Operating Income

Microsoft: $12.9 billion

AWS: $9.3 billion

Google Cloud: $1.2 billion

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

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

Google Cloud generated record operating income of $1.2 billion, up from $395 million year over year.

Parent Company Results

Amazon: $148 billion

Google/Alphabet: $84.7 billion

Microsoft: $64.7 billion

AWS parent company Amazon generated $148 billion during second-quarter 2024, an increase of 10 percent year over year compared with $134 billion. Operating income for Amazon was $14.7 billion, up from $7.7 billion year over year.

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

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

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 modernize 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.”