AWS continues to go from strength to strength despite economy-wide downturn TechRadar Skip to main content TechRadar is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Here's why you can trust us. AWS continues to go from strength to strength despite economy-wide downturn By Will McCurdy published 1 August 2022 Appetite for AWS and cloud computing remains strong (Image credit: AWS) Audio player loading… Amazon Web Services (AWS) is continuing to rake in the dough, regardless of how the wider economy is doing, the company has revealed in its latest financial results, The cloud hosting giant posted a gob-smacking $19.74 billion in revenue in its second quarter 2022 results, growing 33% year on year. Profit margins also remained healthy; AWS posted an operating profit of $5.715 billion, a 36% rise year on year. What s driving growth Growth was driven by a number of new clients, including BT, US airline Delta Airlines, and investment bank Jefferies. The success of AWS contrasts with Amazon's main business, which lost $3.8bn in the second quarter, despite net sales rising 7% year-on-year to reach $121bn. Chief executive Adam Jassey attributed the losses to "continued inflationary pressures in fuel, energy, and transportation costs", as well as to a return to normal consumer buying patterns post-covid, and costs associated with its purchase of electric vehicle maker Rivian. The cloud computing market as a whole remains extremely lucrative; in 2023, Gartner predicts end-user spending on public cloud computing will reach nearly $600 billion. Amazon remains the primary beneficiary the this IT spending boom, controlling about 33% of the market according to Gartner's latest statistics.READ MORE:> AWS is upping its security and malware protection (opens in new tab) > AWS has patched a rather embarrassing Kubernetes bug (opens in new tab) > Our guide to the best bare metal hosting around (opens in new tab) Not everyone is thrilled about AWS's success, however. Microsoft is reportedly preparing to lobby the US government to ensure that large-scale cloud computing contracts are spread out between different vendors, rallying other big players such as Google Cloud and Oracle, if sources reported by the Wall Street Journal (opens in new tab) are to be believed. The other main vendors in the space are also reporting huge revenues. Google Cloud's revenues soared to $6.3 billion in its most recent quarter, up 35% year on year, while Microsoft Azure's revenue surpassed $25 billion for the first time, a year on year rise of 33%. "AWS continues to grow at a fast pace, and we believe we're still in the early stages of enterprise and public sector adoption of the cloud," chief financial officer Brian Olsavsky told analysts on a conference call.Want to try out AWS alternatives for size? Check out our guide to the best-dedicated server hosting Will McCurdyWill McCurdy has been writing about technology for over five years. He has a wide range of specialities including cybersecurity, fintech, cryptocurrencies, blockchain, cloud computing, payments, artificial intelligence, retail technology, and venture capital investment. He has previously written for AltFi, FStech, Retail Systems, and National Technology News and is an experienced podcast and webinar host, as well as an avid long-form feature writer. See more Computing news Are you a pro? Subscribe to our newsletter Sign up to theTechRadar Pro newsletter to get all the top news, opinion, features and guidance your business needs to succeed! Thank you for signing up to TechRadar. You will receive a verification email shortly. There was a problem. Please refresh the page and try again. MOST POPULARMOST SHARED1You may not have to sell a body part to afford the Nvidia RTX 4090 after all2The iPhone 14 Pro is made of the wrong stuff; the Pixel 7 proves that to me3Apple October launches: the new devices we might see this month4Google's AI editing tricks are making Photoshop irrelevant for most people5Blizzard made me explain Overwatch 2 smurfing to my mum for nothing1Best laptops for designers and coders 2The iPhone 14 Pro is made of the wrong stuff; the Pixel 7 proves that to me3Stop saying Mario doesn't have an accent in The Super Mario Bros. Movie4iPhone 15 tipped to come with an upgraded 5G chip5Google Pixel Tablet is what Apple should've done ages ago Technology Magazines (opens in new tab)● (opens in new tab)The best tech tutorials and in-depth reviewsFrom$12.99 (opens in new tab)View (opens in new tab)