Amazon overtake Microsoft in market capitalisation—thanks largely to AWS revenue
Earlier this month AWS reported that in 2017 they pulled in $17.4billion in sales. This is an increase of 43% compared to 2016’s $12.2 billion in sales.
AWS’ performance has helped Amazon become the third most valuable company in the US, surpassing Microsoft in market capitalisation for the first time, climbing to $702.5 billion.
However, it’s not all doom and gloom for Microsoft—they report that Azure’s revenue has grown by 98% year over year, and have reported “intelligent cloud” revenues, a segment that includes Azure, of $7.8 billion last quarter.
Amazon attribute 10% of its total revenue growth the AWS.