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Thndr Claps » U.S. Claps » Tech 📲 » Weaker cloud business expected to hurt Microsoft and Amazon ☁️

Weaker cloud business expected to hurt Microsoft and Amazon ☁️

by Omar El Shorafa
January 24, 2023
Tech, Claps

The Clap
As inflation continues to impact spending, Amazon (NASDAQ:AMZN) and Microsoft (NASDAQ:MSFT) is expected to see slower cloud service revenues in the current period.

What
Demand for cloud services has declined significantly in the past 9 months as businesses globally look to cut down on spending amid a difficult economic situation.

Companies have been lowering spending on cloud-based services during 2022.

So What
Microsoft expects its Q2 revenue to increase by 2.5% to $53 billion, its weakest growth in six years.

Now What
Microsoft is set to announce its earnings for the past quarter this week.

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