Amazon’s cloud generated over $10 billion in net quarterly sales for the first time ever, up 33% from a year ago (AMZN)
- Amazon Web Services surpassed $10 billion in net sales for the first time ever this past quarter.
- AWS generated $10.2 billion in net sales, up 33% from last year — although that figure slightly missed Wall Street analyst revenue expectations of $10.29 billion.
- This quarter also saw AWS’s biggest revenue growth slowdown since the company started disclosing its cloud revenue.
- That slowdown may be because of competitive pressure from rivals like Microsoft or Google Cloud. It could also just be because of the law of large numbers, with AWS’ growing revenue base making that much harder to demonstrate large growth percentages every quarter.
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Amazon’s cloud business topped $10 billion in net sales for the first time this part quarter, the company announced when it filed its quarterly earnings on Thursday.
Amazon Web Services, the retailer’s market-leading cloud platform, generated $10.2 billion in net sales this quarter, up 33% from this time last year. The same period of last year, AWS generated $7.7 billion in net sales. It was up slightly from last quarter, when AWS recorded revenue of $9.95 billion.
That said, the figure missed Wall Street analyst expectations of $10.29 …continued .
[Source: Business Insider]