AWS revenue surges 45.7% to $6.68 billion in Q3 2018

Amazon cloud unit Amazon Web Services (AWS) has achieved 45.7 percent growth to report $6.68 billion revenue in Q3 2018.
AWS event for CIOsThe world’s No.1 cloud business by revenue announced several new customers including DoorDash, Hubspot, Samsung Heavy Industries, and Yelp.

Together with DXC, AWS announced a global agreement to build a new multi-billion dollar DXC – AWS Integrated Practice that will deliver IT migration, application transformation, and business innovation to global Fortune 1000 clients.

Olsavsky, CFO, said the company is operating more efficiently. “We’ve really been able to cut back in a number of key areas,” Olsavsky told reporters, citing cost improvements for cloud unit Amazon Web Services as well.

Amazon net sales increased 29 percent to $56.6 billion in the third quarter, compared with $43.7 billion in third quarter 2017.

Operating income increased to $3.7 billion in the third quarter, compared with operating income of $347 million in third quarter 2017.

Net income increased to $2.9 billion in the third quarter, or $5.75 per diluted share, compared with net income of $256 million, or $0.52 per diluted share, in third quarter 2017.

“Amazon Business has reached a $10 billion annual sales run rate,” said Jeff Bezos, Amazon founder and CEO. “Amazon Business is adding customers, including large educational institutions, local governments, and more than half of the Fortune 100.”

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