AWS revenue is booming with Amazon taking over Microsoft in Market Capitalisation

Amazon market capitalisation surpassed Microsoft with US$ 702.5 billion. Amazon and Microsoft have their own industries providing services in different niches where Amazon is in retails and Microsoft provides services in productivity software and desktop. But in Cloud Service both companies are competing with each other. Amazon had reported about financials for the first time in Cloud Business Section. 

Amazon Web Services Sales was estimated in 2017 was US$17.4 billion and in 2016 AWS had a sales of US$ 12.2 billion. Microsoft also at the same time said that Azure revenue is growing at 98 percent year over year where in the last quarter they made US$7.8 billion. Amazon’s revenue is been quadrupled over the past three years where the company has offered 10 percent of its total revenue growth to Amazon Web Services. But Amazon is still behind Apple that worth US$849.2 billion and Alphabet worth US$744.8 billion (Google) where Microsoft is at the fourth place. 

Amazon CEO Jeff Bezos is the richest man in the world where surpassing Microsoft founder Bill Gates with net worth of US$100 Billion in 1999. Jeff Bezos has a net worth of US$118 billion according to the Bloomberg Billionaire’s Index. Amazon is become officially as the third most valuable company in United States.