$ 54 billion in annual revenue for Amazon Web Services, Amazon said Thursday when it released its first quarter financial results. Cloud computing business grew 32% from last year, allowing the cloud giant to beat its forecast.
10 years of Prime Video and 15 years of AWS
In total, Amazon’s net profit rose to $ 8.1 billion in the first quarter, or $ 15.79 per share, from $ 2.5 billion (and $ 5.01 per share). ) of the first quarter of 2020. Net sales increased 44% to $ 108.5 billion in the first quarter, when forecast was $ 104.46 billion.
“Two of our kids are now 10 and 15 – and after being brooded for years, they’re growing fast and asserting themselves,” CEO Jeff Bezos said in a statement. “As Prime Video turns 10, more than 175 million Prime members have streamed shows and movies over the past year, and streaming hours have increased by more than 70% from a year ago on the other. “
“In just 15 years, AWS has grown into a $ 54 billion annual revenue company that rivals the world’s largest technology companies, and its growth is accelerating, growing at 32% per year. Businesses, from Airbnb to McDonald’s to Volkswagen, come to AWS because we offer what is by far the broadest set of tools and services available, and we continue to relentlessly invent on their behalf. “
32% growth rate
Breaking down sales by segment, AWS achieved net sales of $ 13.5 billion in the first quarter. Its growth rate of 32% is better than that of 28% of the previous quarter, and in line with the growth rate of 33% posted in the first quarter of the year 2020.
After a crazy year of pandemic-related sales, Amazon’s North America segment achieved net sales of $ 64.37 billion, up 40% from the previous year. International net sales amounted to $ 30.65 billion, an impressive 60% growth.
Advertising services are the main driver of sales in Amazon’s “Other” category, which is not an official industry. Amazon says the category grew 77% in the first quarter, with net sales of $ 6.91 billion.
For the second quarter, Amazon forecasts net sales of between $ 110 billion and $ 116 billion. Operating income is expected to be between $ 4.5 billion and $ 8 billion.