4th February, 2019 1 Min read
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Amazon reported improved earnings on Thursday, raking in over $3 billion from 2018, but a large portion of this has come through its cloud computing arm, AWS.
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The leading cloud provider’s profits grew 45% year on year, continuing an annual trend of growing by at least 40% each year. The cloud division has become crucial for the whole of Amazon for both revenue and profits.
Indeed, the PaaS offerings proved a big hit during the company’s Re:Invent conference in November. Lots of effort and marketing had gone into customisable services, such as the AWS Marketplace for machine learning and AI. This, combined with a whole host of new offerings and new partnerships, such as Fender guitars, Formula 1 and Zurich Insurance, painted a picture of good health for the cloud division of Amazon.
The company as a whole reported its third record profit in a row, thanks to a strong year for cloud computing, advertising and a successful festive period. The Seattle-based company’s 2018 profit of $3.03bn, or $6.04 a share, is up from $1.86bn, or $3.75 a share, on the same quarter a year earlier.
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