AWS (Amazon Web Services), the Cloud business of Amazon.com, said its sales surged 19 percent year-over-year to $26.3 billion during the second-quarter of 2024.
AWS operating income was $9.3 billion in Q2 2024, compared with operating income of $5.4 billion in second quarter 2023.
Amazon.com said its total sales increased 10 percent to $148 billion for its second quarter ended June 30, 2024, compared with $134.4 billion in second quarter 2023.
Net income of Amazon.com rose to $13.5 billion in the second quarter, or $1.26 per diluted share, compared with $6.7 billion, or $0.65 per diluted share, in second quarter 2023.
“We’re continuing to make progress on a number of dimensions, but perhaps none more so than the continued reacceleration in AWS growth,” said Andy Jassy, Amazon President & CEO.
INNOVATIONS
AWS remains the top choice for customers as companies modernize their infrastructure and migrate to the cloud, while also exploring new Generative AI opportunities. AWS Cloud platform offers unparalleled functionality, superior security, and outstanding operational performance.
AWS said it has a vast partner ecosystem and advanced AI capabilities, including SageMaker for model building, Bedrock for leveraging frontier models, Trainium for cost-effective training and inference, and Q for a powerful GenAI assistant that excels in coding, software development, and business integration.
AWS has signed new agreements with Commonwealth Bank of Australia, Databricks, Discover Financial Services, Eli Lilly and Company, Experian, GE HealthCare, NetApp, Scopely, ServiceNow, Shutterfly, and many others—as well as AI startups Perplexity, H Company, and Observea.
It delivered AWS Graviton4-based compute instances, providing 30 percent better price-performance than the industry-leading AWS Graviton3 instances.
AWS recently announced an AUD $2 billion partnership with the Australian Government to provide a “Top Secret” AWS Cloud to enhance the nation’s defense and intelligence capabilities.
AWS has launched Anthropic Claude 3.5 Sonnet, Meta Llama 3.1, and Mistral Large 2 models in Amazon Bedrock.
Companies such as AXA, DoorDash, Nasdaq, Rocket Insurance, SAP, Thomson Reuters, Workday, WPP, and Zendesk announced new applications built on Bedrock.
AWS launched multiple AI-powered features for consumers, including shopping assistant Rufus for all U.S. mobile customers, playlist generator Maestro for Amazon Music, and a new search experience for Fire TV.
Amazon’s Cloud business maintains a strong lead in the market though Microsoft and Google again had higher percentage growth numbers. Google is bigger than the next four largest players, while Microsoft is twice the size of Google and Amazon is 35 percent bigger than Microsoft, Synergy Research Group said.
Baburajan Kizhakedath
