Amazon Web Services (AWS) has achieved 42 percent growth in revenue at $4.584 billion and 36 percent increase in profit to $1.171 billion in Q3 2017.
AWS generated $12.346 billion revenue and $2.977 billion profit during the first nine months of 2017 – thanks to its innovation in Cloud offerings.
AWS has returned more than $3.9 billion in operating profits on a trailing twelve month basis, while the remaining Amazon business operated at a $668 million loss, despite prominent mind-share in many of the markets it competes in, according to Meaghan McGrath of TBR.
AWS continued to support corporate profitability even as e-commerce giant Amazon invested in business expansions with the acquisition of Whole Foods, Prime growth and the introduction of new Echo and Fire TV devices.
More than 70 percent of AWS’ $1.171 billion in operating profit went to counter operating losses in the collective other retail and media segments,
AWS continues to drive revenue as an exclusive or preferred cloud provider across many customers, noting deals with Toyota Racing Development, Randstad, GRAIL, Hulu, Fair Isaac Corporation, and further commitment from General Electric.
AWS continues to innovate its product set to appease the needs of its customers with advancements like a new application migration status service, AWS Migration Hub, and a machine learning-backed security service that automatically discovers and protects sensitive data being run through AWS.
AWS is expected to launch more transformative products at the conference in the US, as AWS innovates across areas such as artificial intelligence, IoT, development tools, unique business services, and infrastructure enhancements.
“AWS’ commitment to innovation will continue to help AWS maintain its revenue lead over its cloud platform and infrastructure challengers Microsoft Azure, IBM Bluemix and Google Cloud Platform, who each draw less than one-third the revenue volume of AWS,” Meaghan McGrath of TBR said in a analysis.
Toyota Racing Development, Randstad, GRAIL, Hulu and FICO selected AWS as their cloud provider. AWS was also named the preferred cloud provider for General Electric (GE) as it undergoes one of the largest and most important digital transformations in its history.
AWS and Microsoft announced Gluon, an open source deep learning library that allows developers of all skill levels to prototype, build, train, and deploy sophisticated machine learning models for the cloud, devices at the edge, and mobile apps.
Earlier, AWS launched per-second billing in all regions for Linux-based EC2 instances, Elastic Graphical Processing Units (GPU), Elastic Block Store (EBS) Volumes, AWS Batch, and Elastic Map Reduce (EMR). Customers using these services will now be billed in one-second (versus one-hour) increments.