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

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.

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

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Starbucks Chases Amazon Into The Cloud With Investment In Tech Startup BrightloomStarbucks said it will license its in-house-built digital technology to startup Brightloom, which sells cloud-based software to the restaurant industry.
Source: Forbes - 🏆 394. / 53 Read more »