Google has spent a lot of money trying to win business outside of Amazon Web Services, as evidenced by the latest quarterly results from both companies, announced on Tuesday.
The big picture: Google may be the leader in search, but when it comes to cloud services, it still pursues Amazon and Microsoft Azure.
Between the lines: Google’s revenue continues to grow, but so do its losses. Meanwhile, AWS continues to grow on both the top and bottom.
Consider it: It took AWS 10 years to hit an annual revenue rate of $ 10 billion, a mark it hit in the first quarter of 2016.
- Less than two years later, in the fourth quarter of 2017, AWS hit a run rate of $ 20 billion.
- Just over a year later, in the first quarter of 2019, a run rate of $ 30 billion was achieved, which was $ 40 billion by the first quarter of 2020.
- The run rate is already at $ 50 billion, according to last night’s fourth quarter earnings report. AWS ‘fourth quarter revenue was not far from the $ 13 billion Google Cloud posted for all of 2020.
Yes but: AWS ‘…