News
AWS Clocks 41 Percent Revenue Growth in Q1
Cloud giant Amazon Web Services (AWS) released its first-quarter earnings for fiscal 2019 on Thursday, reporting $7.7 billion in revenue for the period-ended March 31, just surpassing analysts' expectations.
That's an increase of 3.6% from the previous quarter, when AWS earned $7.4 billion, and an increase of 41.4% from the year-ago period, when it earned $5.4 billion.
Operating income for the quarter was $2.2 billion, up only slightly from the last quarter but representing a more substantial year-over-year increase of 58.8%.
AWS has consistently been its parent company's fastest-growing business unit, and Q1 was no different. For comparison, the International retail segment grew by just 8.9% year-over-year, and the North America retail segment by 16.6%.
The cloud unit comprised 13% of Amazon.com's total revenues.
Microsoft, the closest competitor to AWS in the cloud, also reported its latest earnings this week. Though it didn't break out its Azure cloud revenue, Microsoft indicated that Azure sales grew by 73% for this most recent financial quarter.