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Amazon is exciting for a lot of reasons. As a massive tech company, it has a lot of ways to win and many business segments that produce large sums of money and sales.
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Microsoft reported $56.5 billion in revenues during the most recent quarter. Of that, $31.8 billion were attributable to the company’s cloud business.
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Google’s Cloud grew by 22% during the third quarter, reaching total sales of $8.4 billion. It was the fastest growing of the three cloud giants.
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This leads me to my next point: growth is rapidly coming back into fashion. The worst of macroeconomic cyclicality is past us and rate cuts are on the horizon.
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Anyway, there is news about Cisco Systems as it relates to the cloud. The company is buying private firm Isovalent which focuses on cloud native security.
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That truth is reflected in the company’s earnings report which shows that revenues grew by 20% during the most recent quarter.
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Instead, what I like is the fact that it produces strong net income with $135.2 million in the most recent quarter.