Amazon's cloud revenue misses estimates for third straight quarter

Odaily News Amazon's cloud business grew slower than expected in the first quarter for the third consecutive quarter. Amazon Web Services (AWS) revenue grew 17% to $29.27 billion, while analysts polled by StreetAccount expected $29.42 billion. The growth slowed from 18.9% in the fourth quarter of last year. AWS is the world's largest cloud infrastructure provider, and its revenue accounts for about 19% of the parent company's total revenue. Its biggest rival Microsoft on Wednesday reported first-quarter growth and guidance for its Azure cloud business that exceeded market expectations. Third-ranked cloud computing provider Google's revenue last week was slightly below market consensus expectations.