Market history
Compiled row by row from the filings themselves rather than from a vendor deck. Where a number is an analyst estimate or a re-defined segment, the chart says so.
$37.6B
2026Q1 revenue · +28% YoY
$34.7B
2026Q1 revenue · +30% YoY
$20.0B
2026Q1 revenue · +63% YoY
Analyst estimates. Solid = Synergy, dotted = Canalys; firms differ and are never mixed.
USD millions, from SEC filings.
The AI inflection is visible after 2023.
Google Cloud's climb from deep loss to profit.
What is and is not comparable here. AWS is a clean reportable segment, unchanged since 2015. The Azure lines are Microsoft's Intelligent Cloud segment — Microsoft has never disclosed quarterly absolute Azure revenue, so the growth chart uses Microsoft's own disclosed “Azure and other cloud services” YoY rate instead, and the dashed portion marks the FY25 segment re-definition at 2024Q3, which is not comparable with the solid line. Google Cloud includes Workspace; quarterly disclosure begins 2018Q4 and operating income 2019Q4, with the Apr-2023 recast applied to 2022. Market share, where shown, is an analyst estimate from Synergy and Canalys press releases rather than a filing. Every row in the dataset carries its own source URL.