Amazon Web Services Posts Record $13.5B

While Microsoft and Google saw tremendous growth in the fourth quarter of 2020, they’re still well behind Amazon in serving businesses that are rapidly offloading their data. Revenue at AWS climbed to $12.7 billion from $9.95 billion a year earlier, which is below the $12.83 billion consensus estimate among analysts polled by FactSet. AWS revenue represented 10% of Amazon’s total sales.

Amazon’s cloud-computing business reported 28% revenue growth in the fourth quarter, falling short of analysts’ expectations. Amazon said Andy Jassy, who runs the cloud division, will succeed Jeff Bezos as CEO of Amazon in the third quarter of this year. Amazon Web Services remains the market leader for cloud computing and storage that companies, governments and schools use to run websites and applications.

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