AWS Achieves $123bn Annualized Revenue Run Rate

Amazon Web Services (AWS) has achieved an annualized revenue run rate of more than $123 billion, CEO Andy Jassy revealed in the company's Q2 2025 earnings call.

The cloud unit saw a revenue of $30.9bn for the quarter, up 17.5 percent year over year (YoY) and more than the previous quarter's $29.3bn. However, while this positions AWS in the lead against competitors Microsoft and Google in terms of revenue, with the companies reporting $29.9bn and $13.6bn respectively, investors were quick to note that AWS' revenue growth rate was significantly lower.

Jassy said: "Year-over-year percentages and growth rates are always a function of the base in which you operate. And we have a meaningfully larger business in the AWS segment than others. I think the second player is about 65 percent of the size of AWS.

"When we look at the results over the last number of quarters, there are sometimes when, as far as we can tell, we’re growing faster than others, and sometimes others are growing faster than us. But if you look at the second-place player you’re talking about, it’s still a pretty significant market segment leadership position that we have."