Amazon recently revealed that its cloud business grew by almost 48.9 per cent during the second quarter beating analysts' predictions.
Amazon's cloud business generated $6.11bn in revenue and the company's growth rate increased slightly from the previous quarter when it showed 48.7 per cent growth.
During the second quarter, its cloud business accounted for 11.5 per cent of its revenue with operating income totalling $1.64bn compared to the same period last year when it made up 10.8 per cent of Amazon's revenue.
Since its core computing and storage services were first released in 2006, AWS has grown considerably and it now makes up a much larger portion of Amazon's business. Over the past three years, the revenue brought in by the company's cloud division has risen by 255 per cent.
Amazon's bet on cloud services has certainly paid off and its decision to enter the business early has allowed the e-commerce company to put a lot of ground between it and its rivals in the space.
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