The fifth paragraph of the story, "Cloud failures cost more than $70 million since 2007, researchers estimate," which was posted to the newswire Tuesday, gave incorrect dollar amounts for the hourly cost of cloud-service outages. The story has been corrected on the newswire and that paragraph now reads:
The costs for an hour-long outage can vary from $89,000 at a travel service provider such as Amadeus, to $225,000 an hour for a service like Paypal, according to the research paper. The figures are based on hourly costs accepted by the industry, the researchers said. Outages at companies like Google, Microsoft and Amazon amount to an estimated $200,000 an hour, according to the group.