AWS Vs. Microsoft Vs. Google Cloud Earnings Q2 2026 Face-Off
CRN compares AWS, Microsoft and Google’s cloud earnings results for Q2 2026 for sales growth rates, new Q2 market share figures, operating income and annual run rates.
The cloud results are officially in for the world’s three largest cloud providers— Amazon Web Services, Microsoft and Google Cloud—as each company has now reported their financial earnings for the second quarter of 2026.
Google Cloud now has nearly a $100 billion annual run rate and is capturing more global cloud market share than ever before.
AWS remained the global market share leader in Q2 2026 with AWS revenue growth at the highest rate in 18 quarters. However, its market share gap over Google and Microsoft is thinning.
Microsoft’s Intelligent Cloud segment grew sales by 32 percent during the quarter, as the software giant won 20 percent share of the global cloud market.
AWS, Microsoft Azure and Google Cloud are all driving cloud sales at a blistering pace thanks to their AI innovation and execution.
CRN breaks down Q2 2026 cloud earnings results in a face-off comparing total sales, annual run rates, revenue growth rates, operating income and global cloud market share.
Q2 2026 Cloud Market Reaches $143 Billion
Before jumping into Google, Microsoft and AWS cloud earnings, here’s a quick look at the global Q2 2026 cloud infrastructure services market.
Enterprise spending on cloud infrastructure services reached $143 billion in the second quarter, up $43 billion year over year, according to new data from Synergy Research Group.
The Q2 2026 global cloud infrastructure services market increased 43 percent year over year, the highest in the last eight years. Over those last 11 quarters, the market has doubled in size with AI and generative AI being the primary driver of growth.
(Microsoft does not make public its exact 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.)
Here’s the key Q2 2026 cloud market numbers and data points from AWS, Microsoft and Google’s results that every channel partner, investor and cloud customers need to know about.
Second Quarter Total Sales/Annual Run Rate
AWS: $42.2 Billion/$169 Billion
Microsoft: $39.3 billion/$157 billion
Google Cloud: $24.8 billion/$99 billion
AWS generated $42.2 billion in total revenue during Q2 2026, pushing Amazon’s cloud unit to a record $169 billion annual run rate.
Microsoft’s Intelligent Cloud segment produced $39.3 billion in quarterly revenue, elevating the company to an annual run rate of $157 billion.
Google Cloud reported $24.8 billion in total cloud revenue for the second quarter of 2026, bringing its annual run rate to $99 billion.
Q2 2026 Sales Growth Year Over Year
Google Cloud: 82 Percent
AWS: 37 Percent
Microsoft: 32 Percent
Google Cloud reported the highest cloud growth rate in years with a whopping 82 percent revenue increase year over year thanks to its $24.8 billion Q2, up from $13.6 billion in Q2 2025. The company’s sales boost was led by an increase in Google Cloud Platform (GCP) across enterprise AI Solutions and enterprise AI Infrastructure, as well as core GCP services.
AWS’ $42.2 billion in revenue during Q2 2026 represented a year-over-year growth rate of 37 percent. This marked AWS’ highest growth rate in 18 quarters.
Revenue for Microsoft’s Intelligent Cloud group was $39.3 billion, an increase of 32 percent year over year. Microsoft reported Azure and other cloud services revenue increased 43 percent year over year.
Worldwide Cloud Market Share For Q2 2026
AWS: 28 Percent Share
Microsoft: 20 Percent Share
Google Cloud: 15 Percent Share
New data from Synergy Research Group this week sheds light on the global market share for enterprise spending on cloud infrastructure services during the second quarter of 2026.
Google Cloud captured its highest cloud market share in its history during Q2 2026 by winning 15 percent share of the global cloud infrastructure services market. This is up 2-points compared to Google Cloud’s 13 percent share in Q2 2025.
AWS remains the dominant cloud market share leader by winning 28 percent share in Q2 2026. However, this is down two points year over year compared to AWS’ 30 percent share it won in Q2 2025.
Microsoft won 20 percent share of the cloud infrastructure services market for Q2 2026, representing flat market share growth compared to its 20 percent market share in Q2 2025.
Q2 2026 Operating Income
AWS: $16.6 billion
Microsoft: $15.9 billion
Google Cloud: $8.8 billion
Google Cloud reported $8.8 billion in operating income for Q2 2026, a whopping 212 percent higher compared to $2.8 billion in Q2 2025.
Microsoft Intelligent Cloud segment generated $15.9 billion in operating income during the quarter, up from $12.1 billion year over year. This represents a 31 percent year-on-year growth rate.
AWS segment operating income was $16.6 billion, compared with $10.2 billion in second quarter 2025. This represents a 63 percent year-on-year growth rate for AWS.