Home Amazon Web Services Hit $10.8bn in Revenue in Q2 2020, a 29% Jump Year-on-Year
Uncategorized

Amazon Web Services Hit $10.8bn in Revenue in Q2 2020, a 29% Jump Year-on-Year

Amazon Web Services revenue-BuyShares.co.nz

As one of Amazon’s strongest-growing business segments, Amazon Web Services, also known as AWS, has witnessed a surge in revenue over the years.

According to data presented by Buy Shares, the revenue of the leading cloud services platform worldwide hit $10.8bn in the second quarter of 2020, a 29% jump year-on-year.

AWS Annual Revenue Surged by 100% in Two Years

Since 2006, when Amazon began offering its cloud computing services, AWS developed into the world’s leading cloud computing platform that powers hundreds of thousands of businesses in 190 countries worldwide. The list of its largest users includes giants like Netflix, Twitch, LinkedIn, Facebook, BBC, and ESPN.

In the first quarter of 2017, the revenue of the Amazon Web Services amounted to over $3.6bn, revealed the company’s Q2 2020 Financial Report. By the end of that year, profits of Amazon’s third-largest revenue stream jumped over $5.1bn. The increasing trend continued in the next twelve months, with the AWS revenue reaching $7.4bn in the fourth quarter of 2018. Statistics indicate this figure rose by 34% to $9.9bn in the fourth quarter of 2019. By the end of the second quarter of 2020, AWS revenue increased by almost $1bn, reaching $10.8bn value.

Statistics also indicate that Amazon’s cloud computing services witnessed the most significant revenue increase in two years. In 2017, the AWS segment generated $17.46bn in annual sales. By the end of 2019, this figure surged by 100% to $35.03bn. As the second-largest revenue stream, the retail third-party seller service saw a 69% increase in profits in this period. The revenue of Amazon online stores, the company’s largest segment, jumped by more than 30% in two years, reaching $141.25bn in 2019.

76% of Business Organizations Use Amazon Web Services

One of the most used ways for companies to utilize cloud computing is to take advantage of the various “as-a-service” options, which provide them access to computing power, software, and other cloud-related functions without the need for in-house hardware.

The 2020 Flexera State of the Cloud Report revealed that 76% of technical professionals from industries around the world stated their organization was currently running apps on Amazon Web Service, with another 12% saying that they were experimenting with the use of AWS apps.

Microsoft’s Azure ranked as the second most popular cloud platform service, with 63% of respondents running its applications. Google Cloud and VMware Cloud Services follow, with 35% and 17% share of respondents, respectively.

Question & Answers (0)

Have a question? Our panel of experts will answer your queries. Post my Question

Leave a Comment

Write a Review

Your email address will not be published. Required fields are marked *

Jastra Kranjec

Jastra Kranjec

Jastra is an editor, writer, and PR specialist with years of experience in the news, research, and report writing. Over the years, she has worked in different fields of journalism and public relations, including politics, economy, and financial markets.

Latest News

IPO deals in Q1 2021-BuyShares.co.uk
Uncategorized

Global IPO Deals Surged by 525% YoY and Hit $201B Value in Q1 2021

Music streaming revenues in 2021-BuyShares.co.nz
Uncategorized

Music Streaming Revenues to Hit $23B in 2021, a 50% Jump Compared to pre-COVID-19 Figures

Like many other sectors, the music industry has been significantly affected by COVID-19, with the massive cancelation of live events and huge ticket sales revenue drops amid the lockdown. With earnings from live music events shrunk to the lowest level in history, artists increasingly rely on income from streaming platforms. According to data presented by...

Software startups funding-BuyShares.co.nz
Uncategorized

Software Startups Raised $176.7B in Total Funding, a 27% Increase YoY

Software solutions have entered all aspects of life in the digital age, with millions of individuals and businesses relying on operating systems and apps to carry out daily tasks. The entire sector’s growth has been followed by the increasing number of software startups searching for a way to raise capital and expand their growth. According...

App Store revenues in 2020-BuyShares.co.nz
Uncategorized

App Store Revenues Surged by 30% YoY and Hit $72.3B in 2020

10 Startups by Largest VC Funding Raised $9B in Q4, 2020, China Accounts For 50%
Uncategorized

10 Startups by Largest VC Funding Raised $9B in Q4, 2020, China Accounts For 50%

Global Interest in Nio Stock Grows by 284% led by Singapore, Canada, and the US
Uncategorized

Global Interest in Nio Stock Grows by 284% led by Singapore, Canada, and the US

Internet of Things revenue-BuyShares.co.uk
Uncategorized

Global Internet of Things (IoT) Revenues to Jump by 53% and Hit $677B by 2025