From Nasdaq: 2024-04-26 11:23:00

Amazon is gearing up to announce its first-quarter 2024 results on April 30. The company is likely to benefit from the strong growth of its cloud computing division, Amazon Web Services (AWS). AWS saw a 13% year-over-year increase in revenue in the fourth quarter of 2023, indicating a positive trend.

In the first quarter of 2024, AWS expanded its partnership with NVIDIA to enhance its generative AI capabilities. Additionally, strategic partnerships with companies like Upstage and Deutsche Fußball Liga helped drive AWS’s customer momentum. These collaborations are expected to have a positive impact on AWS’s performance.

Amazon faces stiff competition in the cloud computing market from Microsoft and Google, who are also making significant efforts to strengthen their positions. However, with a strong customer base and innovative partnerships, Amazon is well-positioned to maintain its competitive edge in this rapidly growing market.

Microsoft’s Azure platform and Google Cloud are also key players in the cloud computing space, contributing substantially to their respective companies’ revenues. Azure’s growth is driven by its availability zones and AI capabilities, while Google Cloud benefits from an expanding infrastructure and strong generative AI momentum.

Investors can expect significant updates and insights regarding Amazon’s overall performance in the first quarter of 2024, particularly in relation to its cloud computing division, AWS. Stay tuned for the upcoming earnings report to understand Amazon’s positioning in the competitive cloud market.



Read more at Nasdaq: Will Solid AWS Momentum Aid Amazon’s (AMZN) Q1 Earnings?