Amazon Web services revenue grew 45 percent during fourth quarter. AWS contributed most to the Amazon’s 2018 income as the company keeps its top position over Microsoft and Google.
Sales topped the analyst’s estimates of $7.29 billion, jumping to $7.43 billion from $5.11 billion in the previous year. AWS revenue generated quarterly sales at 10 percent at Amazon.
The retailer posted net income of $3 billion, or $6.04 per diluted share for the fourth quarter, compared with 2017’s Q4 net income of $1.9 billion, or $3.75 per diluted share. Revenue for the quarter rose 20 percent to $72.4 billion year-over-year.
The company ’s net income for full fiscal year came to $10.1 billion, or $20.14 per diluted share. However, in 2017, it reported a net income of $3 billion, or $6.15 per diluted share.
“We are getting more and more creative around getting efficiency up and getting our cost of acquisition down,” Brian Olsavsky, Amazon’s chief financial officer, said in the company’s quarterly earnings call with analysts on Thursday.
Amazon’s business is growing faster, getting major support by advertising. Amazon’s “Other” category grew 97 percent to $3.39 billion in the fourth quarter. The comany beats Microsoft and Google for the cloud infrastructure. Brian Weiser, an analyst at Pivotal Research Group, had provided estimates of $7.41 billion for AWS’s ourth-quarter revenue.
At another side, Microsoft is also growing and said that its Azure cloud platform revenue jumped 76 percent in the latest quarter. However, it’s still smaller than AWS.