Amazon Web Services (AWS), the towering titan among cloud service providers, recently announced an impressive earnings report which secured Amazon’s position as the fourth largest company in the United States. Amazon’s company value now stands at a monumental $365.8 billion, trailing only behind Apple, Google, and Microsoft.
According to an official report released on Businesswire, Amazon’s operating cash flow experienced a significant boost of 42%, totaling $12.7 billion for the trailing twelve months. This compares to the previous year’s $9.0 billion earning for the corresponding timeframe which ended June 30, 2015. The company’s free cash flow also saw a healthy leap, increasing to $7.3 billion from $4.4 billion in the previous year. Other positive changes included an increase in net sales by 31% to $30.4 billion in Q2 of 2016 up from $23.2 billion in Q2 2015. Operating income too registered a surge, doubling from $464 million in Q2 2015 to $1.3 billion in Q2 2016.
But, how did Amazon’s cloud services division fare in 2016’s Q2?
Reporting a booming revenue of $2.88 billion in the second quarter of 2016, AWS thrived with a whopping 58% increase in comparison to the same period the previous year. Operating income for AWS in Q2 2016 stood at an impressive $718 million.
Despite facing competition from prominent tech giants including Google, Microsoft, IBM and, more recently, Samsung – following their acquisition of Joyent – Amazon Web Services (AWS) remains a reassuringly solid pillar in the competitive cloud service landscape.
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Paul Femi Balo is the founder and publisher of TechBooky. He covers artificial intelligence, African technology, digital infrastructure, enterprise technology and the global digital economy.
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