Amazon Web Services CEO: We're on track to hit $100 billion in sales in 2024 [Yahoo! Finance]
Amazon.com, Inc. (AMZN)
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Source: Yahoo! Finance
"This quarter, we just announced a few days ago that AWS did hit the $100 billion annualized revenue run rate milestone — not many tech companies have done that," AWS CEO Adam Selipsky said on the Opening Bid podcast (video above). Added Selipsky, "I think it's a notable milestone." Powered by voracious demand for generative AI services and the ongoing push to move workloads to the cloud, Amazon's enterprise cloud operation is fresh off a bang-up first quarter. AWS sales accelerated for the second straight quarter, rising 17% year over year to $25 billion. The business — which Amazon CEO Andy Jassy hired Selipsky to run in 2021 — saw operating profits nearly double to $9.4 billion. The division represented about 62% of Amazon's Q1 operating profits. Selipsky contends that with 85% of companies still storing their data on-premise, the tailwinds for AWS are just beginning to gust. "We're optimistic about the business outlook for AWS and I think it can continue to grow reall
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