In its latest quarterly earnings, Amazon posted record profits of $2.5bn across all of its businesses - a 1,286 percent increase from the same period last year.
Amazon Web Services, meanwhile, saw revenues increase 49 percent to $6.1bn, as the world’s largest cloud company continued extend its dominance.
Profits as far as the eye can see
“It was a strong quarter,” chief financial officer Brian Olsavsky said. “What I attribute it to is continued strength in some of our most profitable areas.”
In an earnings call, transcribed by Seeking Alpha, Olsavsky said that operating expenses were kept low “as the team has really worked well to plan our data centers [and] run our data centers more efficiently, to meet increasing usage at our customers; usage rates are exceeding our growth rate.”
He added that AWS has rolled out “800 new services and features so far this year; that’s an accelerated pace from last year, which was a record year. We see customers have migrated more than 80,000 databases using the AWS Database Migration Service.”
But Amazon’s aggressive growth across all of its businesses has led some AWS customers to look elsewhere, in a concerted effort to not fund a competitor - notably with Walmart moving to Microsoft Azure and Target - to Google Cloud.