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The emergence of the cloud computing service has resulted in the entry of many companies into the market, with numerous competitors for cloud computing leading the technological trend. Recent studies have mainly focused on the characteristics of cloud computing, whereas its influence on firm performance has been rarely discussed. Therefore, this study aimed to fill this empirical research gap. This current study examined whether investments in cloud computing can influence firm performance and whether cloud computing influences firm performance. Data were collected using a questionnaire. Structural equation modeling provided evidence supporting the theoretical model. The results of this study revealed that cloud computing investment influences firm learning and growth performance, internal processes, and finances. The theoretical and practical contributions and implications of these findings are described in this paper.