Cloud growth doesn't stop economy from biting Amazon and Alphabet - SiliconANGLE

The sky is no longer the limit for cloud computing giants, as the slowing economy strikes at one of tech's biggest growth stories of the past decade. Two of the top cloud providers, Amazon Web Services Inc. and Google LLC, today revealed revenues in their cloud units, which have boosted their growth and profits for years now. The results weren't bad -- but cloud is no longer on the kind of rocket ride that can overcome big slowdowns in e-commerce and ad spending. Alphabet's Google Cloud unit posted a 33% rise in its fourth quarter, to $7.315 billion, with an operating loss of $480 million, down significantly from a loss of $890 million a year ago. Zacks Consensus Forecast had Google Cloud revenue rising 32% from a year ago, to $7.3 billion, so it managed to meet expectations but was still down from 38% growth in the third quarter.