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In a groundbreaking start to 2024, CRN recognizes Microsoft Azure in the Cloud 100 list, solidifying its position as a leading cloud infrastructure company amid impressive Q2 earnings and AI advancements.
We are excited to start the year by announcing that CRN has recognized Microsoft Azure as one of the top 20 Cloud Infrastructure Companies in the 2024 Cloud 100 list. This prestigious list acknowledges the 100 coolest cloud companies across five important categories: infrastructure, monitoring and management, storage, software, and security.
The CRN Cloud 100 award reaffirms Azure's position as a game-changer in the cloud industry. It comes at a time when Microsoft's cloud business, particularly Azure, is making waves in the tech world. With over 200 Azure data centers spread across more than 60 regions worldwide, Azure has become the go-to platform for businesses seeking scalable, secure, and reliable AI powered cloud solutions.
Microsoft Beats Q2 Earnings on Cloud and AI Strength
Microsoft’s second quarter earnings report for 2024 showcased growth, as the company experienced a revenue increase of 16 percent year over year. A key driver behind this success was Azure. Revenue from Azure and other cloud services surged by a 28 percent with AI services contributing to six points of growth.
Both AI and non-AI Azure services exceeded analysts' expectations and are helping to solidify Microsoft’s position as the world’s second-largest cloud computing company. This remarkable performance underscores the increasing demand for cloud services and the pivotal role that Azure plays in meeting the evolving needs of businesses around the world.
During Microsoft’s recent quarterly earnings call, Microsoft Chairman and CEO Satya Nadella along with other executives shared some notable examples of Microsoft’s progress and momentum in AI and cloud technologies:
Azure AI now serves 53,000 customers with more than one-third being new to Azure within the past year.
Azure Cosmos DB data transactions increased 42 percent year-over-year.
Data stored in Microsoft Fabric’s multi-cloud data lake, OneLake, rose 46 percent quarter-over-quarter.
GitHub revenue jumped more than 40 percent year-over-year driven platform growth and the adoption of GitHub Copilot.
GitHub Copilot now has 1.3 million paid subscribers, a 30 percent increase quarter-over-quarter.
Copilot in Windows is available on more than 75 million PCs using Windows 10 and Windows 11
Looking forward, it’s projected that global business spending on cloud computing infrastructure will exceed $1 trillion, according to IDC. The cloud will continue to be a catalyst for innovation and opportunities. Microsoft Azure is expected to maintain revenue growth in the third quarter thanks to the success of its consumption business and the significant contributions from AI.
Congratulations to Microsoft Azure for this well-deserved recognition and continued success, and here's to a future filled with even more innovation and productivity gains!