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Amazon (AMZN) Q3 Earnings In-Depth: AWS Grows 55%

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E-commerce giant Amazon (AMZN - Free Report) just released its third-quarter fiscal 2016 earnings results. While Amazon made its name as an online shopping marketplace, one of the most notable aspects of today’s report was the latest data from Amazon Web Services.

(Also Read: The Complete Guide To Everything Owned By Amazon)

Web Services is a collection of enterprise-level platforms designed for websites and companies that can’t afford the time or money it takes to develop their own server farms. In other words, AWS provides cloud-based storage and templates for companies to quickly boost their computing capabilities.

Launched a decade ago, AWS has really exploded in popularity over the past few years. In the second quarter, Amazon reported AWS revenues of $2.886 billion, which represented growth of 58.2% year-over-year and 12.5% sequentially.

According to today’s report, Amazon saw AWS revenues of $3.231 billion in the third quarter, up from $2.085 billion last year. This represents growth of nearly 55% year-over-year and nearly 12% sequentially.

Make sure to check back later for more commentary on the growth of Amazon Web Services!

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