Published , by TJ Denzer
Published , by TJ Denzer
With Amazon having reported on its latest fiscal quarter, Q3 2024, we also got a fresh finger on the pulse of how Amazon Web Services is doing. Simply put? Good. The segment grew its revenue by around 19 percent year-over-year from Amazon’s Q3 2023, adding substantially to the company’s successful bottom line on revenue and earnings-per-share (EPS).
Amazon shared the revenue of AWS in its Q3 2024 earnings results on its investor relations website this week. There, Amazon shared that revenue specifically for Amazon Web Services ended up landing at $27.5 billion. That accounted for a 19 percent increase over Amazon’s Web Service revenue from Q3 2023, which itself was a larger increase than what AWS experienced from 2022 to 2023 (12 percent).
Amazon Web Services have seen some hefty investment as Amazon works to expand and ensure its continued growth with support of new energy projects. The projects are slated to add new plants and sources of nuclear energy to the grid, offering a wealth of energy for local consumers and to continue to power Amazon’s facilities. With how much money the service makes, it was a substantial part of Amazon’s wins in revenue and EPS for the quarter.
With those investments in Amazon Web Services and the service continuing to rake in the cash, stay tuned for what comes next for by following our Amazon topic.