Amazon reported a record net income of $3.6 billion

Amazon Web Services reported revenue growth of 41% on Thursday, as the cloud-computing division continues to provide substantial profit for its parent company.

Sales at AWS rose to $7.7 billion from $5.44 billion a year earlier, beating the $7.69 billion average analyst estimate, according to FactSet. AWS revenue represented 13% of total sales at Amazon, up from 10% in the fourth quarter.

AWS remains the dominant provider of cloud servers and storage to businesses looking to offload their data center infrastructure, but Microsoft Azure is rapidly becoming a stronger competitor and is winning notable deals, particularly in retail. Microsoft said on Wednesday that Azure revenue surged 73% in the latest quarter, helping the company top analyst estimates for profit and sales.

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By |2019-04-27T22:53:25-05:00April 28th, 2019|Latest News|