Amazon's profitable and huge cloud computing business is up 78%
Michael Seto/Business Insider
Amazon CEO Jeff Bezos
With its latest earnings released on Thursday, net sales for the quarter hit just over $2 billion, up 78%, with $521 million in profits. So far this year, Amazon Web Services (AWS) has brought in $5.4 billion, dropping $1.7 billion of profits to the bottom line.
When it first started reporting revenues and profits on its cloud business in the first quarter, it was on track to pull in about $6 billion for the year.
Unless something unexpected happens in the fourth quarter (which tends to be the biggest quarter of the year for selling stuff to enterprises), it will exceed that, by a mile.
| AWS | Q3 2015 | Q3 2014 | YTD 2015 | YTD 2014 | |||||||||||||
| Net sales | $ | 2,085 | $ | 1,169 | $ | 5,474 | $ | 3,224 | |||||||||
| Segment operating expenses (1) | 1,564 | 1,071 | 4,297 | 2,804 | |||||||||||||
| Segment operating income (loss) | $ | 521 | $ | 98 | $ | 1,177 | $ | 420 |
Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.
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