Cloud Produces Sunny Earnings at Amazon, Microsoft and Alphabet - The New York Times

On a related note, from a Charles Fitzgerald tweet: "Q1 Cloud Company CAPEX: Amazon $4.94B; Google $2.51B; Microsoft $2.1B"

"The worry, however, is that this cannot last forever, not with Microsoft and Google making big investments in their own cloud businesses while trying to undercut Amazon with lower prices.

That has not happened — at least not yet. While A.W.S. revenue grew at a slower pace than in the past, it still rose a healthy 43 percent to $3.66 billion. The company’s shares rose 1 percent in after-hours trading.

“There’s always this moment when people think, ‘Is the magic going to run out?’” said James McQuivey, an analyst at Forrester Research. “It just hasn’t panned out.”"

Cloud Produces Sunny Earnings at Amazon, Microsoft and Alphabet - The New York Times