Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Google has been spending heavily to win business away from Amazon Web Services, as evidenced by both companies' latest quarterly results, which were announced Tuesday.
The big picture: Google may be the leader in search, but when it comes to cloud services, it is still chasing after Amazon and Microsoft's Azure.
Between the lines: Google's revenue continues to grow, but so do its losses. Meanwhile, AWS continues to grow both the top and bottom line.
Consider this: It took 10 years for AWS to reach a $10 billion annual revenue run rate, a mark it reached in the first quarter of 2016.
- Less than two years later, in the fourth quarter of 2017, AWS hit a $20 billion run rate.
- It notched a $30 billion run rate just over a year after that, in Q1 2019, and then got to $40 billion by Q1 2020.
- Now, per last night's fourth-quarter earnings report, it's already at a $50 billion run rate. And AWS' Q4 revenue wasn't far from the $13 billion that Google Cloud took in for all of 2020.
Yes, but: AWS' latest quarter did come in slightly below analysts' expectations for both revenue and profits.
Go deeper: Amazon's next act: The Bezos culture will live on