Turns out there’s real money in the cloud. The Amazon.com Inc. division that serves up computer power, storage, and software via the Internet, generated $1.57 billion in first-quarter sales.
The first-ever disclosure of results from the Amazon Web Services division showed revenue increased 49 percent from a year earlier. AWS cranked out operating income of $265 million for Amazon, helping offset losses in other businesses. Net losses for the enlarged company came in at $57 million.
Impressive considering $265 million in operating income is already more than half of Amazon's entire North American (i.e. Amazon.com) net income of $517 million.