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.