#GOOGDOC UPDATE#

Further, Microsoft can basically put revenue in whichever bucket it wants. How are we to interpret this data? On the one hand, it helps Microsoft show data that it has significant competition in the cloud and doesn’t have a monopoly. It’s more than $10 billion lower than most analyst estimates, including ours.

That’s the four periods from June 2021 to June 2022. Last month as part of the Federal Trade Commission’s attempt to block the Microsoft-Activision deal, Microsoft submitted redacted documents to the court that pegged its Azure revenue for its fiscal 2022 at $34 billion.

The media picked up on Google analysis in late 2022 on a similar manner, but the Activision hearing let the cat out of the bag… oops! We’ll also explain how the Enterprise Technology Research data on cloud should be interpreted in this context and look forward to potential catalysts for cloud growth, including acceleration in the fourth quarter attributable to generative AI.

#GOOGDOC UPDATE#

In this Breaking Analysis, we update our hyperscaler cloud revenue estimates and market share data. Although the change also helps Google Cloud, its market share is only modestly affected. Our new estimates show that AWS maintains a greater than 50% share of revenue through 2023. The poorly redacted docs, which have since been removed from public viewing, suggest that Microsoft’s Azure revenue is at least 25% lower than our previous estimates.Īs a result, we’ve cut and revised our Azure revenue figures, which in turn increases Amazon Web Services Inc.’s Big Four hyperscale cloud market share. Recently leaked court documents during Microsoft Corp.’s ActivisionBlizzard hearing require us to revisit our cloud forecasts and market share data.

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