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Hello,
Thanks for your interest in our latest research. You can view a summary of our latest report below.
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This report reviews the growth and development of the webscale network operator (WNO) market. In the most recent 12 months (2Q22-1Q23), webscalers represented $2.25 trillion (T) in revenues (+3% YoY), $280 billion (B) in R&D spending (+22% YoY), and $201B in capex (+7% YoY). They had $632B of cash and short-term investments (-5% YoY) on the books as of March 2023, and $549B in total debt (+6% YoY). Webscalers employed approximately 4.10 million (M) people at the end of 1Q23, down from 4.14M in March 2022 but up from 3.62M in March 2021.
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Webscale revenue growth returns to positive territory in 1Q23, thanks to Amazon
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Global webscale revenues totaled to $551.4B in 1Q23, up 2.4% YoY. This is an improvement from the zero YoY growth recorded in 4Q22, but weaker than the 4.5% growth recorded for CY2022 overall. Annualized (12 month) revenues through 1Q23 were $2,247M, up 2.8% YoY. Comparing 1Q23 revenues with 1Q22, Amazon delivered the most growth (sales up $10.9B YoY), while Alibaba, Apple, JD.Com and Fujitsu all recorded revenue drops in 1Q23.
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Capex and R&D spend as a % of revenues were both at all-time highs last quarter, in 4Q22. Capex spend moderated slightly in 1Q23, but R&D continued to surge ahead. In $ terms, annualized capex was $200B...
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Best regards,
Matt Walker
Chief Analyst
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