5 Biggest Cloud Providers by Market Share in 2024

2. Microsoft Corp

Market Share Q4 2023: 24%

Microsoft reported 33% increase in net profit for its fiscal 2024 second quarter, buoyed by robust Azure cloud business and exceeding analysts’ revenue expectations. Net profit increased to $21.9 billion, driven by strong productivity and cloud sectors. Revenue for the October-December period increased 18%, surpassing $62 billion. Despite this, Microsoft’s stock experienced a slight dip in after-hours trading. The company’s emphasis on AI integration across its tech stack, particularly in Azure, continues to attract growth, with intelligent cloud division revenue climbing by 20%.