CRN provides a head-to-head Q1 2025 cloud earnings results comparison between market leaders AWS, Google Cloud and Microsoft’s around revenue, operating income, sales growth and global cloud market share.
Cloud sales continued to surge during the first quarter of 2025 for the three largest cloud companies on the planet: Microsoft, Amazon Web Services and Google Cloud.
AWS, Google and Microsoft all recently reported their cloud financial earnings results for the first three months of 2025, which ended March 31.
When combined, these three tech giants won a total of 63 percent share of the global cloud services market in Q1 2025, according to new data by Synergy Research Group.
“All of the leading cloud providers are posting some impressive numbers,” said John Dinsdale, a chief analyst at Synergy Research Group, in a statement. “We continue to see strong revenue and growth numbers coming out of the cloud market, with a major acceleration of growth over the last six quarters.”
First Quarter 2025 Cloud Services Spending Reaches $94 Billion
Enterprise spending on cloud infrastructure services increased to $94 billion in the first quarter of 2025, according to Synergy cloud market data. This represents a 23 percent increase, or $17.5 billion revenue growth, year over year.
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“Amazon maintains a strong lead in the market though Microsoft and Google once again had higher percentage growth numbers,” said Dinsdale.
AWS Vs. Azure Vs. AWS
AWS, Google Cloud and Microsoft cloud earnings results for Q1 2025 are primarily based off revenue generated from each of their flagship platforms including Microsoft Azure, AWS Cloud and the Google Cloud Platform (GCP).
Google Cloud revenue consists of infrastructure, GCP products, Google Workspace and platform services, while AWS revenue includes compute, storage, database and other cloud services sales.
Microsoft does not make available its Azure revenue figures public. Instead, Azure sales are included inside Microsoft’s Intelligent Cloud group that also includes server products and other non-Azure cloud services. It does not include productivity sales, such as from Office 365, or sales from PCs like Windows. Microsoft’s fiscal third-quarter 2025 results are in the same three-month span as calendar year fourth-quarter 2024, which ended March 31.
Here are the exact revenue figures, operating income, cloud market share and sales growth percentages for Google Cloud, Microsoft and AWS in Q1 2025, as well as parent company financial results.
Q1 Revenue/Annual Run Rate
AWS: $29.3 billion/$117 billion
Microsoft: $26.8 billion/$107 billion
Google Cloud: $12.3 billion/$49.2 billion
AWS generated total sales of $29.3 billion during the quarter. This means the cloud giant has over a $117 billion annual run rate (ARR).
Microsoft’s Intelligent Cloud business generated $26.8 billion in total sales in the quarter, meaning the software giant now has an ARR of $107 billion.
Google Cloud generated $12.3 billion in revenue, meaning Google’s cloud company has a $49 billion ARR.
Q1 Sales Growth Year Over Year
Google Cloud: 28 percent
Microsoft: 21 percent
AWS: 17 percent
Google Cloud’s $12.3 billion in revenue for the quarter represents an increase of 28 percent year over year, compared with $9.6 billion in Q1 2024.
Microsoft’s Intelligent Cloud group generated $26.8 billion in total sales in the quarter, representing a 21 percent increase year over year. Inside this group, Microsoft reported Azure and other cloud services revenue grew 33 percent year over year.
AWS $29.3 billion in sales during Q1 2025 represents a 17 percent increase compared to approximately $25 billion the company generated in Q1 2024.
Cloud Market Share For Q1 2025
AWS: 29 percent
Microsoft: 22 percent
Google Cloud: 12 percent
AWS still remains the worldwide leader in cloud computing services by winning 29 percent share in Q1 2025. However, this is two percentage points lower than AWS’ 31 percent market share it won in Q1 2024, as well as one percentage point down from Q4 2024 when AWS won 30 percent share.
Microsoft ranks No. 2 in terms of global market during the quarter by owning 22 percent share. This is 1-share point higher than Microsoft’s 21 percent share in Q4 2024. However, Microsoft is three percentage points down compared to the 25 percent share it achieved in Q1 2024.
Google Cloud won 12 percent share of the global cloud services market during Q1 2025, which is the exact same 12 percent share figure Google Cloud had in Q4 2024. It is one percentage point higher than the 11 percent share Google Cloud generated in Q1 2024.
Other tech giants that ranked in the top 10 in terms of global cloud market share include Alibaba at 4 percent share, Oracle with 3 percent share, while Salesforce, IBM, Tencent and Huawei all won 2 percent share.
Q1 Operating Income
AWS: $11.5 billion
Microsoft: $11.1 billion
Google Cloud: $2.2 billion
AWS’ operating income reached $11.5 billion in the first quarter, up from $9.4 billion in Q1 2024.
Microsoft’s Intelligent Cloud group generated $11.1 billion in operating income, up from $9.5 billion year over year.
Google Cloud reported a record $2.2 billion in operating income, which is up from $900 million year over year. Before 2023, Google Cloud’s operating income was always in the red.
Parent Company Results
Amazon Revenue: $156 billion
Amazon Operating Income: $18.4 billion
Net sales for AWS parent company Amazon increased 9 percent to $156 billion in the first quarter compared to $143 billion year over year.
Operating income jumped to $18.4 billion in the first quarter compared to $15.3 billion in first quarter 2024.
AWS’ former CEO and current Amazon CEO Andy Jassy touted AWS’ Trainium2 chips and Bedrock model expansion that, “make it easier for AWS customers to train models and run inference more flexibly and cost-effectively.”
Alphabet Revenue: $90 billion
Alphabet Operating Income: $30.6 billion
Google Cloud’s parent company Alphabet generated a total of more than $90 billion in revenue.
Operating income for Alphabet increased 20 percent year over year to $30.6 billion.
Alphabet CEO Sundar Pichai said underpinning the company’s total growth “is our unique full stack approach to AI.”
“This quarter was super exciting as we rolled out Gemini 2.5, our most intelligent AI model, which is achieving breakthroughs in performance and is an extraordinary foundation for our future innovation,” Pichai said in a statement. “And cloud grew rapidly with significant demand for our solutions.”
Microsoft Revenue: $70 billion
Microsoft Operating Income: $32 billion
The world’s largest software company generated $70 billion in total revenue during the quarter, up 13 percent year over year.
Operating income for Microsoft climbed 16 percent year over year to $32 billion.
“Cloud and AI are the essential inputs for every business to expand output, reduce costs, and accelerate growth,” said Microsoft CEO Satya Nadella in a statemen. “From AI infra and platforms to apps, we are innovating across the stack to deliver for our customers.”
