Amazon on cloud nine: AWS is now a $7.3 billion business
AWS is currently running with an annual revenue run rate of $7.3 billion including $1 billion from its database service alone.
Amazon’s cloud computing business Amazon Web Services kicked off its 'Re:Invent' conference with some statistics to show how the company’s shines above all others in the over-crowded cloud market. Ever since Amazon for the first time broke out financial details of its secretive cloud computing unit in April, we've known that AWS is "on track" to report $7 billion in revenue this year.
However, at the company's Re:Invent conference, AWS' senior vice president Andy Jassy said that AWS is currently running with an annual revenue run rate of $7.3 billion including $1 billion from its database service alone.
He said the cloud unit has now over 1 million enterprise customers on the AWS platform; and that AWS is the "fastest growing enterprise technology company."
Earlier this year in May, Amazon amazed everyone by sharing financial details of its cloud computing business. Chief Executive Jeff Bezos, during first quarter earnings call, revealed that Amazon Web Services is “a $5 billion business and its growth is accelerating.” And as of Q2 2015, the AWS unit soared 81.5 percent to $1.82 billion.
Many of its competitors are not yet comfortable to share numbers for its cloud businesses. But, one of the rival was quick to reveal that it's cloud business is still bigger than AWS. IBM, as of 2Q 2015, reported $8.7 billion in cloud revenue for the trailing 12 months.
While, one of AWS' closest rival Microsoft is saving itself from disclosing how much it makes from Azure – which is seen as direct competitor of AWS. In April, Satya Nadella said Microsoft's “commercial cloud” business, which includes, but is not limited to Azure, for the third quarter was up 106 percent, and represents $6.3 billion in annual revenue.
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