AWS Posts 69% Increase in Revenue

AWS Posts 69% Increase in Revenue

Amazon has released its fourth quarter earnings report, including the figures for its Amazon Web Services (AWS) cloud computing unit. The cloud titan generated $2.4 billion in revenue for the quarter, 69 percent more than last year. For the full year, cloud revenues hit $7.9 billion for a 71.7 percent increase.

The company as a whole had $107 billion in revenue for 2015, which was 20 percent higher than 2014. And it generated net income of $596 million. Despite the impressive results, the company failed to meet Wall Street expectations, and Amazon stock fell following the news.

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