Unredacted documents are giving the world the first glimpse into Azure’s revenue, revealing it still makes far less than rival AWS.

First reported by The Information, via TechRadar, the documents came to light as part of the FTC’s case to block Microsoft’s Activision acquisition. A number of documents were redacted with a Sharpie marker, allowing details to be recovered. One of those details is how much revenue Microsoft Azure brings in.

According to the documents, in the 12 months prior to June 2022, Azure brought in $34 billion. While an impressive figure, it’s a far cry from the $72 billion AWS generated during the same period.

The revelation is the first real look investors and analysts are getting at Azure’s revenue. Microsoft traditionally includes Azure’s numbers amid its Enterprise Services, SQL Server, and Windows Server earnings, effectively masking any real analysis of Azure’s performance.

While AWS is still the clear leader, in terms of the worldwide cloud market, the gap is close enough that Azure’s revenue should be higher than a mere 47% of AWS.

As TechRadar points out, Microsoft will likely have to start being far more transparent moving forward, now that the cat is out of the bag.