Amazon posts jump in profits as cloud sales grow 70 per cent

 
Chris Papadopoullos
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Amazon's cloud computing business is expanding nicely (Source: Getty)

Profits at online retailer Amazon jumped in the three months to September, the company has announced today.

Amazon posted net income of $79m (£51m), or $0.17 per share in the three months September, compared to a net loss of $437m, or 0.95 cents a share, in the same period last year.

Net sales were reported to be $25.4bn, up 23 per cent from revenues of $20.6bn in 2014.

Sales for Amazon Web Services, its cloud-hosting business, were up 70 per cent from the same time last year to $5,474bn while its operating income more than doubled to $1,177m.

“For the first time, we’re recommending you bring home a six-pack for the whole family,” said Jeff Bezos, founder and chief executive of Amazon.com.

“At a price of $50 for one or $250 for a six-pack, Fire sets a new bar for what customers should expect from a low-cost tablet."

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