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Amazon's cloud business jumped 37% from this time last year, but sees biggest slowdown in more than five years — and missed analyst estimates

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Although Amazon Web Services saw a slowdown in growth, it's a major driver of Amazon's profits. Still, Amazon's results disappointed Wall Street.

On Thursday, Amazon announced that its cloud Amazon Web Services generated $8.38 billion in net sales this quarter, up 37% from this time last year. This is AWS's slowest quarterly growth rate in more than five years. This quarter, AWS comprised of more than two-thirds of Amazon's operating income — but fell short of the $8.5 billion mark that Wall Street had wanted to see. Visit Business Insider's homepage for more stories.

On Thursday, Amazon announced that its cloud Amazon Web Services generated $8.38 billion in net sales this quarter, up 37% from this time last year. This is AWS's slowest quarterly growth rate in more than five years. This quarter, AWS comprised of more than two-thirds of Amazon's operating income — but fell short of the $8.5 billion mark that Wall Street had wanted to see. Visit Business Insider's homepage for more stories.

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37% growth and twice the size as their 3 biggest competitors put together. How horrible.

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