Amazon's cloud business worth $1.57 billion

BANGALORE, INDIA: Amazon has revealed its financial earnings report of its cloud computing unit for the first time. The revenue was almost 50 percent which is approximately $1.57 billion up from $1.05 billion last year.

Amazon's cloud business is currently accounting for 7pc of its total revenue of $22.72 billion. The e-commerce company said, after reaching $1.57 billion in the first quarter of this year, Amazon Web Services  is on track for $6.23 billion in sales by year’s end.

According to reports, Amazon shares rose $26.01 to $416 in extended trading, after closing slightly higher at $389.99 on Nasdaq. The company said it expected net sales to  grow to 18 percent in the current quarter to $22.8 billion.

The international unit however, accounts for about 35 percent of total sales, with sales for the quarter slipping 1.77 percent which accounts to $7.75 billion.