AWS Vs. Microsoft Vs. Google Cloud Earnings Q2 2025 Face-Off

CRN breaks down cloud sales, operating income, revenue growth and global cloud market share for AWS, Microsoft and Google Cloud for the second quarter of 2025.

Cloud sales continue to surge at AWS, Microsoft and Google Cloud as the three largest cloud companies in the world generated roughly $75 billion in revenue during the second quarter of 2025.

With AWS, Google and Microsoft all recently reporting the financial earnings results for their cloud computing and cloud services sales, CRN breaks down each company’s cloud revenue, sales growth year over year, cloud market share, operating income and parent company results for the second quarter of 2025.

“Cloud providers have seen quarterly revenues jump by $36 billion since the beginning of 2023, with GenAI clearly being the major driver of this growth,” said John Dinsdale, a chief analyst at Synergy Research Group, in an email to CRN. “In terms of competitive positioning, Amazon maintains a strong lead in the market though Microsoft and Google continue to achieve higher growth rates.”

Second-Quarter 2025 Cloud Services Market Hits $99 Billion

Enterprise spending on cloud infrastructure services increased to $99 billion in the second quarter of 2025, according to new data from Synergy Research Group.

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The $99 billion in cloud services sales in second-quarter 2025 represents a $20 billion increase year over year compared with second-quarter 2024.

Azure Vs. AWS Vs. GCP

AWS, Microsoft and Google Cloud earnings results for second-quarter 2025 are mostly based off sales from each of the company’s flagship platforms, including Microsoft Azure, Google Cloud Platform (GCP) and the AWS Cloud.

It is key to note that Microsoft does not make public its Azure revenue figures. Instead, Azure sales are included inside Microsoft’s Intelligent Cloud group, which 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 fourth-quarter 2025 results are in the same three-month span as calendar year fourth-quarter 2024, which ended June 30.

CRN breaks down AWS, Google Cloud and Microsoft financial results, sales growth percentages, operating income, parent company revenue and cloud market share in second-quarter 2025.

Second-Quarter Revenue/Annual Run Rate

AWS: $30.9 billion/$124 billion

Microsoft: $29.9 billion/$120 billion

Google Cloud: $13.6 billion/$54 billion

AWS net sales reached $30.9 billion in the second quarter of 2025. The means Amazon’s cloud business is currently at a roughly $124 billion annual run rate.

Microsoft’s Intelligent Cloud group generated $29.9 billion in revenue during the quarter. Microsoft’s cloud group now has an annual run rate of approximately $120 billion.

Google Cloud’s total sales of $13.6 billion means Google’s cloud group now has an annual run rate of about $54 billion.

Second-Quarter Sales Growth Year Over Year

Google Cloud: 32 percent

Microsoft: 26 percent

AWS: 17 percent

In terms of sales growth rate, Google Cloud continues to outpace AWS and Microsoft.

Google Cloud’s $13.6 billion in second-quarter 2025 sales represents a 32 percent increase compared with $10.3 billion in revenue it made in second quarter 2024.

Microsoft’s Intelligent Cloud group’s $29.9 billion in sales represents a 26 percent growth compared with $23.8 billion year over year. Microsoft said Azure and other cloud services revenue grew by 39 percent year over year.

AWS’ $30.9 billion in total sales represents a 17 percent increase compared with the $26.3 billion AWS generated in the second quarter of 2024.

Cloud Market Share

AWS: 30 percent

Microsoft: 20 percent

Google Cloud: 13 percent

AWS is still the dominant leader in cloud infrastructure services on a global basis, according to new data from Synergy Research Group.

AWS won 30 percent share of the global enterprise cloud infrastructure services market during the second quarter of 2025.

Microsoft placed second by winning 20 percent share of the global cloud services market.

Google Cloud won 13 percent share of the global cloud market in second-quarter 2025.

Second-Quarter Operating Income

Microsoft: $12.1 billion

AWS: $10.2 billion

Google Cloud: $2.8 billion

Microsoft’s Intelligent Cloud group reported operating income of $12.1 billion for the quarter, up 23 percent compared with $9.8 billion year over year.

AWS’ operating income increased to $10.2 billion in second-quarter 2025, up 10 percent compared with $9.3 billion year over year.

Google Cloud generated a record $2.8 billion in operating income for second-quarter 2025, up 133 percent from $1.2 billion year over year.

Parent Company Results

Amazon revenue: $168 billion

Amazon operating income: $19.2 billion

AWS parent company Amazon generated $168 billion in the second quarter, representing a net sales increase of 13 percent year over year.

Amazon reported $19.2 billion in operating income, with AWS representing $10.2 billion of its parent company’s operating income.

“Our AI progress across the board continues to improve our customer experiences, speed of innovation, operational efficiency, and business growth, and I’m excited for what lies ahead,” said Amazon CEO Andy Jassy during his company’s second-quarter 2025 earnings report.

Alphabet revenue: $96 billion

Alphabet operating income: $31 billion

Google Cloud parent Alphabet generated $96 billion in revenue, up 14 percent year over year.

Operating income for the second quarter was $31 billion, an increase from $27 billion in second-quarter 2024.

“Cloud had strong growth in revenues, backlog and profitability. Its annual revenue run-rate is now more than $50 billion,” said Alphabet CEO Sundar Pichai during its earnings report. “With this strong and growing demand for our cloud products and services, we are increasing our investment in capital expenditures in 2025 to approximately $85 billion and are excited by the opportunity ahead.”

Microsoft revenue: $76 billion

Microsoft operating income: $34 billion

Microsoft generated $76 billion in revenue during the quarter, up 18 percent year over year.

The software giant’s operating income was $34 billion in second-quarter 2025, representing an increase of 23 percent year over year.

“Cloud and AI is the driving force of business transformation across every industry and sector,” said Microsoft Chairman and CEO Satya Nadella during the company’s earnings report. “We’re innovating across the tech stack to help customers adapt and grow in this new era, and this year Azure surpassed $75 billion in revenue, up 34 percent, driven by growth across all workloads.”