Tech giants elbow in on Amazon’s cloud computing profits
There was a common theme in some of the big tech earnings announcements this week: the cloud. Most of Amazon’s more than $700 million first-quarter profit came not from shipping books and electronics all over the globe, but from its Amazon Web Services business. Amazon was a pioneer in letting companies rent computer processing and data storage on its huge collections of internet-connected servers, but this week, Microsoft and Alphabet’s Google also reported growth in their cloud businesses.
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