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Microsoft's Azure growth rate is up for the first time in years - Business Insider

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Microsoft's Azure cloud business just showed accelerated growth for the first time in years as it takes on Amazon Web Services

It's the first time Azure's quarterly revenue growth rate has increased in years.

The increase was a very modest three percentage points, but any increase is significant as industry watchers looks for indications Microsoft is gaining traction in the cloud market over dominant Amazon Web Services.For the first time in years, Microsoft's cloud computing business grew faster during the company's most recent quarter than in the quarter before.on Wednesday, reported a 62 percent increase in Azure revenue growth compared to the same quarter last year.

While a three-percentage-point increase is very modest, it's the first increase in Azure's growth rate in many quarters and significant as the cloud computing industry watches for signs of Microsoft's growing traction. Azure revenue has been falling consistently since after October 2017 earnings release when the company reported a 98% Azure growth rate .Basically, the bigger these platforms get, the harder it is to post the triple-digit growth figures that they did when the platforms were younger. Amazon Web Services has seen its revenue growth slow too, for largely the same reasons.

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