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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 since 2011. In the most recent 12 months (3Q22-2Q23), webscalers represented $2.28 trillion (T) in revenues (+3.3% YoY), $285 billion (B) in R&D spending (+18.2% YoY), and $196B in capex (+1.3% YoY). They had $669B of cash and short-term investments (+5.8% YoY) on the books as of June 2023, and $546B in total debt (+5.4% YoY). Webscalers employed approximately 4.07 million (M) people at the end of 2Q23, unchanged from June 2022 but up substantially from the 2.96 million employed three years prior, in June 2020.
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Revenues up 6% YoY in 2Q23, to $567B
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The webscale market skyrocketed during COVID. In 1Q20, when COVID first emerged, annualized revenues were just under $1.5 trillion. Just 6 quarters later, in 3Q21, the sector reached the $2 trillion mark. This stunning growth moderated in 2022 due to macroeconomic issues (inflation, higher interest rates), weak ad sales, and China's slow growth and ongoing constraint of the tech sector. The market is picking up again in 2023, however, as 2Q23 annualized revenues hit...
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Best regards,
Matt Walker
Chief Analyst
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