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@Eric有话说：宏观逆风显现，全球云计算Q3增速放缓

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这篇文章不错，转发给大家看看</body></html>","text":"这篇文章不错，转发给大家看看","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/667462115","repostId":667268400,"repostType":1,"repost":{"magic":2,"id":667268400,"tweetId":"667268400","gmtCreate":1668766680000,"gmtModify":1668866609375,"author":{"id":9000000000000075,"idStr":"9000000000000075","authorId":9000000000000075,"authorIdStr":"9000000000000075","name":"Eric有话说","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":8,"userType":8,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":248,"starInvestorFlag":false},"themes":[],"images":[{"img":"https://static.tigerbbs.com/5f0c6c6d92d3488aa683071b05608fcb"},{"img":"https://static.tigerbbs.com/1f60167c04e248c1a518f205c6cfac98"},{"img":"https://static.tigerbbs.com/7791bbc7ab3841d1be2e4473f51ec47e"},{"img":"https://static.tigerbbs.com/219f717089854b25bb64f27a7bdbec34"},{"img":"https://static.tigerbbs.com/9b6df8583df3428cbe768abdead7ca2c"},{"img":"https://static.tigerbbs.com/b39f9bea189a4703893271d490261169"},{"img":"https://static.tigerbbs.com/33423899646742d38a1d925cd905c67c"}],"coverImages":[{"img":"https://static.tigerbbs.com/5f0c6c6d92d3488aa683071b05608fcb"},{"img":"https://static.tigerbbs.com/1f60167c04e248c1a518f205c6cfac98"},{"img":"https://static.tigerbbs.com/7791bbc7ab3841d1be2e4473f51ec47e"}],"title":"宏观逆风显现，全球云计算Q3增速放缓","html":"<html><head></head><body><p><span>随着阿里财报的姗姗来迟，全球四大云计算巨头Q3成绩单已揭晓。</span></p> <p><img src=\"https://static.tigerbbs.com/33423899646742d38a1d925cd905c67c\"></p> <p><span><strong><span>全球云计算一哥还是亚马逊AWS：</span></strong><span></span></span></p> <ul> \n <li><p><span><strong><span>Q3营收205.38亿美元，同比增长27%，</span></strong><strong><span>第一次突破200亿美元大关</span></strong><strong><span>；经营利润54.03亿美元，同比增长11%；</span></strong><strong><span>经营利润率26%；</span></strong></span></p></li> \n <li><p><span><strong>AWS Q3营收占亚马逊总营收</strong></span><span><strong>16%</strong></span><span><strong>，但贡献了亚马逊</strong></span><span><strong>214%</strong></span><span><strong>的经营利润。</strong></span></p></li> \n</ul> <p><img src=\"https://static.tigerbbs.com/219f717089854b25bb64f27a7bdbec34\"></p> <p><span><strong><span>全球云计算老二还是微软Azure：</span></strong></span></p> <ul> \n <li><p><span><strong><span>Q3营收128.75亿美元，同比增长35%，</span></strong></span><span><strong>增速首次跌破40%；</strong></span></p></li> \n <li><p><span><strong><span>Azure所属的智慧云业务（Server+Azure+Enterprise Services）经营总利润89.78亿美元，同比增长19%，</span></strong></span><span><strong>连续4个季度创历</strong><strong>史新高</strong></span><span><strong><span>；经营利润率44%；</span></strong></span></p></li> \n <li><p><span><strong><span><strong>智慧云业务</strong>Q3营收占微软总营收</span></strong></span><span><strong>41%</strong></span><span><strong><span>，贡献了微软</span></strong></span><span><strong>42%</strong></span><span><strong><span>的经营利润；</span></strong></span></p></li> \n <li><p><span><strong>下季度Azure营收或首次出现环比下滑情况。</strong></span></p></li> \n</ul> <p><img src=\"https://static.tigerbbs.com/9b6df8583df3428cbe768abdead7ca2c\"></p> <p><span><strong><span>全球云计算老三还是谷歌Google Cloud：</span></strong></span></p> <ul> \n <li><p><strong><span>Q3营收68.68亿美元，同比增长38%，</span></strong><span><strong>增速是全球四大云计算中第一。</strong></span><span><strong>经营亏损6.99亿美元，经营亏损率10%，</strong></span><span><strong>亏损继续大幅收窄</strong></span><span><strong>；</strong></span></p></li> \n <li><p><span><strong><strong></strong>GCP营收增速再次超过Cloud整体增速，拿下夏威夷州政府、澳洲交易所大单；</strong></span></p></li> \n <li><p><strong>未来Capex投资重点仍是<span>Cloud</span>、AI。</strong></p></li> \n</ul> <p><img src=\"https://static.tigerbbs.com/1f60167c04e248c1a518f205c6cfac98\"></p> <p><span><strong><span>全球云计算老四还是阿里云：</span></strong></span></p> <ul> \n <li><p><strong><span>Q3营收208亿人民币（29.18亿美元），同比增长4%（-6%），环比恢复增长，</span></strong><span><strong>增速仍然是全球四大云计算中垫底；</strong></span></p></li> \n <li><p><span><strong>Q3 EBITA盈利4.34</strong><strong>亿人民币，EBITA Margin 2.1%，</strong></span><span><strong>连续7个季度盈利</strong></span><span><strong>，虽然是EBITA口径，而且钉钉也在云里面。</strong></span></p></li> \n</ul> <p><img src=\"https://static.tigerbbs.com/7791bbc7ab3841d1be2e4473f51ec47e\"></p> <p><span><strong><span>全球云计算新秀，有着“平民版AWS”之称的Digital Ocean：</span></strong></span></p> <ul> \n <li><p><strong><span>Q3营收1.52亿美元，同比增长37%；</span></strong><span><strong>首次实现经营盈利</strong></span><strong><span>，经营利润率6%；Monthly <strong><span>ARPU 79美元，同比增长28%；</span></strong></span></strong></p></li> \n <li><p><strong><span>Q3 EBITDA盈利6370万美元，同比增长75%，</span></strong><span><strong>持续创历史新高</strong></span><strong><span>；<strong><span>EBITDA</span></strong> Margin 42%，</span></strong><span><strong>连续2个季度创历史新高；</strong></span></p></li> \n <li><p><strong><span><strong><span>Digital Ocean</span></strong>最大的特点是销售费用率很低，仅13%；长期低于研发费用率和管理费用率。</span></strong></p></li> \n <li><p><strong><span><strong><span><strong><span>Digital Ocean明显的</span></strong>特点是客户主要是中小企业，理论上对宏观经济周期敏感，但业绩仍平稳增长，比较意外。公司称因客户足够分散，且云计算渗透率目前还很低，未来空间够大。</span></strong></span></strong></p></li> \n</ul> <p><img src=\"https://static.tigerbbs.com/5f0c6c6d92d3488aa683071b05608fcb\"></p> <p><strong><span>小结：</span></strong><span><strong><span></span></strong></span></p> <p><span><strong>整体全球云计算公司Big 3继续保持稳定发挥，但</strong></span><span><strong>宏观经济压力开始凸显</strong></span><span><strong>，高基数面前增速仍会出现</strong></span><span><strong>边际放缓</strong></span><span><span><strong>的态势</strong></span><span><strong>。</strong></span></span></p> <p><span><strong>在盈利性方面，微软、亚马逊保持稳定，谷歌开始重视盈利性，明年有望首次盈利。阿里云的持续盈利，也给国内云计算产业提振了信心，<strong><strong>证明云计算商业模式比较成熟了。</strong></strong></strong></span></p> <p><span><strong><strong>虽然宏观经济下行，但云计算公司Capex仍保持在历史高位</strong>，FAMG Q3平均Capex同比增长16%，且主要投入方向仍是集中在Servers，主要投入场景还是AI/ML。</strong></span><span><strong>我们仍坚持认为云计算的持续繁荣是数据中心半导体大爆发最关键的一环。</strong></span></p> <p><img src=\"https://static.tigerbbs.com/b39f9bea189a4703893271d490261169\"></p> <p><span><strong><span>全球四大云计算厂商特点：</span></strong></span></p> <p><span><strong>亚马逊AWS：Marketplace=Apple app store</strong></span></p> <p><span><span><strong>微软Azure：IaaS+PaaS+SaaS三位一体</strong></span><span><strong>谷歌Google Cloud：Data Cloud优势明显，TensorFlow+TPU软硬件生态</strong></span></span></p> <p><span><strong>阿里云：向AWS学习，与亚马逊同属电商巨头</strong></span></p></body></html>","htmlText":"<html><head></head><body><p><span>随着阿里财报的姗姗来迟，全球四大云计算巨头Q3成绩单已揭晓。</span></p> <p><img src=\"https://static.tigerbbs.com/33423899646742d38a1d925cd905c67c\"></p> <p><span><strong><span>全球云计算一哥还是亚马逊AWS：</span></strong><span></span></span></p> <ul> \n <li><p><span><strong><span>Q3营收205.38亿美元，同比增长27%，</span></strong><strong><span>第一次突破200亿美元大关</span></strong><strong><span>；经营利润54.03亿美元，同比增长11%；</span></strong><strong><span>经营利润率26%；</span></strong></span></p></li> \n <li><p><span><strong>AWS Q3营收占亚马逊总营收</strong></span><span><strong>16%</strong></span><span><strong>，但贡献了亚马逊</strong></span><span><strong>214%</strong></span><span><strong>的经营利润。</strong></span></p></li> \n</ul> <p><img src=\"https://static.tigerbbs.com/219f717089854b25bb64f27a7bdbec34\"></p> <p><span><strong><span>全球云计算老二还是微软Azure：</span></strong></span></p> <ul> \n <li><p><span><strong><span>Q3营收128.75亿美元，同比增长35%，</span></strong></span><span><strong>增速首次跌破40%；</strong></span></p></li> \n <li><p><span><strong><span>Azure所属的智慧云业务（Server+Azure+Enterprise Services）经营总利润89.78亿美元，同比增长19%，</span></strong></span><span><strong>连续4个季度创历</strong><strong>史新高</strong></span><span><strong><span>；经营利润率44%；</span></strong></span></p></li> \n <li><p><span><strong><span><strong>智慧云业务</strong>Q3营收占微软总营收</span></strong></span><span><strong>41%</strong></span><span><strong><span>，贡献了微软</span></strong></span><span><strong>42%</strong></span><span><strong><span>的经营利润；</span></strong></span></p></li> \n <li><p><span><strong>下季度Azure营收或首次出现环比下滑情况。</strong></span></p></li> \n</ul> <p><img src=\"https://static.tigerbbs.com/9b6df8583df3428cbe768abdead7ca2c\"></p> <p><span><strong><span>全球云计算老三还是谷歌Google Cloud：</span></strong></span></p> <ul> \n <li><p><strong><span>Q3营收68.68亿美元，同比增长38%，</span></strong><span><strong>增速是全球四大云计算中第一。</strong></span><span><strong>经营亏损6.99亿美元，经营亏损率10%，</strong></span><span><strong>亏损继续大幅收窄</strong></span><span><strong>；</strong></span></p></li> \n <li><p><span><strong><strong></strong>GCP营收增速再次超过Cloud整体增速，拿下夏威夷州政府、澳洲交易所大单；</strong></span></p></li> \n <li><p><strong>未来Capex投资重点仍是<span>Cloud</span>、AI。</strong></p></li> \n</ul> <p><img src=\"https://static.tigerbbs.com/1f60167c04e248c1a518f205c6cfac98\"></p> <p><span><strong><span>全球云计算老四还是阿里云：</span></strong></span></p> <ul> \n <li><p><strong><span>Q3营收208亿人民币（29.18亿美元），同比增长4%（-6%），环比恢复增长，</span></strong><span><strong>增速仍然是全球四大云计算中垫底；</strong></span></p></li> \n <li><p><span><strong>Q3 EBITA盈利4.34</strong><strong>亿人民币，EBITA Margin 2.1%，</strong></span><span><strong>连续7个季度盈利</strong></span><span><strong>，虽然是EBITA口径，而且钉钉也在云里面。</strong></span></p></li> \n</ul> <p><img src=\"https://static.tigerbbs.com/7791bbc7ab3841d1be2e4473f51ec47e\"></p> <p><span><strong><span>全球云计算新秀，有着“平民版AWS”之称的Digital Ocean：</span></strong></span></p> <ul> \n <li><p><strong><span>Q3营收1.52亿美元，同比增长37%；</span></strong><span><strong>首次实现经营盈利</strong></span><strong><span>，经营利润率6%；Monthly <strong><span>ARPU 79美元，同比增长28%；</span></strong></span></strong></p></li> \n <li><p><strong><span>Q3 EBITDA盈利6370万美元，同比增长75%，</span></strong><span><strong>持续创历史新高</strong></span><strong><span>；<strong><span>EBITDA</span></strong> Margin 42%，</span></strong><span><strong>连续2个季度创历史新高；</strong></span></p></li> \n <li><p><strong><span><strong><span>Digital Ocean</span></strong>最大的特点是销售费用率很低，仅13%；长期低于研发费用率和管理费用率。</span></strong></p></li> \n <li><p><strong><span><strong><span><strong><span>Digital Ocean明显的</span></strong>特点是客户主要是中小企业，理论上对宏观经济周期敏感，但业绩仍平稳增长，比较意外。公司称因客户足够分散，且云计算渗透率目前还很低，未来空间够大。</span></strong></span></strong></p></li> \n</ul> <p><img src=\"https://static.tigerbbs.com/5f0c6c6d92d3488aa683071b05608fcb\"></p> <p><strong><span>小结：</span></strong><span><strong><span></span></strong></span></p> <p><span><strong>整体全球云计算公司Big 3继续保持稳定发挥，但</strong></span><span><strong>宏观经济压力开始凸显</strong></span><span><strong>，高基数面前增速仍会出现</strong></span><span><strong>边际放缓</strong></span><span><span><strong>的态势</strong></span><span><strong>。</strong></span></span></p> <p><span><strong>在盈利性方面，微软、亚马逊保持稳定，谷歌开始重视盈利性，明年有望首次盈利。阿里云的持续盈利，也给国内云计算产业提振了信心，<strong><strong>证明云计算商业模式比较成熟了。</strong></strong></strong></span></p> <p><span><strong><strong>虽然宏观经济下行，但云计算公司Capex仍保持在历史高位</strong>，FAMG Q3平均Capex同比增长16%，且主要投入方向仍是集中在Servers，主要投入场景还是AI/ML。</strong></span><span><strong>我们仍坚持认为云计算的持续繁荣是数据中心半导体大爆发最关键的一环。</strong></span></p> <p><img src=\"https://static.tigerbbs.com/b39f9bea189a4703893271d490261169\"></p> <p><span><strong><span>全球四大云计算厂商特点：</span></strong></span></p> <p><span><strong>亚马逊AWS：Marketplace=Apple app store</strong></span></p> <p><span><span><strong>微软Azure：IaaS+PaaS+SaaS三位一体</strong></span><span><strong>谷歌Google Cloud：Data Cloud优势明显，TensorFlow+TPU软硬件生态</strong></span></span></p> <p><span><strong>阿里云：向AWS学习，与亚马逊同属电商巨头</strong></span></p></body></html>","text":"随着阿里财报的姗姗来迟，全球四大云计算巨头Q3成绩单已揭晓。 全球云计算一哥还是亚马逊AWS： Q3营收205.38亿美元，同比增长27%，第一次突破200亿美元大关；经营利润54.03亿美元，同比增长11%；经营利润率26%； AWS Q3营收占亚马逊总营收16%，但贡献了亚马逊214%的经营利润。 全球云计算老二还是微软Azure： Q3营收128.75亿美元，同比增长35%，增速首次跌破40%； Azure所属的智慧云业务（Server+Azure+Enterprise Services）经营总利润89.78亿美元，同比增长19%，连续4个季度创历史新高；经营利润率44%； 智慧云业务Q3营收占微软总营收41%，贡献了微软42%的经营利润； 下季度Azure营收或首次出现环比下滑情况。 全球云计算老三还是谷歌Google Cloud： Q3营收68.68亿美元，同比增长38%，增速是全球四大云计算中第一。经营亏损6.99亿美元，经营亏损率10%，亏损继续大幅收窄； GCP营收增速再次超过Cloud整体增速，拿下夏威夷州政府、澳洲交易所大单； 未来Capex投资重点仍是Cloud、AI。 全球云计算老四还是阿里云： Q3营收208亿人民币（29.18亿美元），同比增长4%（-6%），环比恢复增长，增速仍然是全球四大云计算中垫底； Q3 EBITA盈利4.34亿人民币，EBITA Margin 2.1%，连续7个季度盈利，虽然是EBITA口径，而且钉钉也在云里面。 全球云计算新秀，有着“平民版AWS”之称的Digital Ocean： Q3营收1.52亿美元，同比增长37%；首次实现经营盈利，经营利润率6%；Monthly ARPU 79美元，同比增长28%； Q3 EBITDA盈利6370万美元，同比增长75%，持续创历史新高；EBITDA Margin 42%，连续2个季度创历史新高； Digital Ocean最大的特点是销售费用率很低，仅13%；长期低于研发费用率和管理费用率。 Digital Ocean明显的特点是客户主要是中小企业，理论上对宏观经济周期敏感，但业绩仍平稳增长，比较意外。公司称因客户足够分散，且云计算渗透率目前还很低，未来空间够大。 小结： 整体全球云计算公司Big 3继续保持稳定发挥，但宏观经济压力开始凸显，高基数面前增速仍会出现边际放缓的态势。 在盈利性方面，微软、亚马逊保持稳定，谷歌开始重视盈利性，明年有望首次盈利。阿里云的持续盈利，也给国内云计算产业提振了信心，证明云计算商业模式比较成熟了。 虽然宏观经济下行，但云计算公司Capex仍保持在历史高位，FAMG Q3平均Capex同比增长16%，且主要投入方向仍是集中在Servers，主要投入场景还是AI/ML。我们仍坚持认为云计算的持续繁荣是数据中心半导体大爆发最关键的一环。 全球四大云计算厂商特点： 亚马逊AWS：Marketplace=Apple app store 微软Azure：IaaS+PaaS+SaaS三位一体谷歌Google Cloud：Data Cloud优势明显，TensorFlow+TPU软硬件生态 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