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Amazon's cloud business lifts profit to a record

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Amazon

Nick Wingfield  |  Seattle 

Amazon delivered a blowout quarter on Thursday, joining Facebook as one of the rare bright spots in a technology sector that has recently produced a string of disappointing earnings reports. Helped by its fast-growing Amazon Web Services business, the company jumped to the most profitable quarter in its nearly 22-year history. Amazon often flip-flops between showing profits and losses, depending on how aggressively it decides to plow money into big new business bets. Investors have granted the company much wider leeway to do so than other technology companies of its size often receive, ...

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First Published: Sat, April 30 2016. 00:03 IST
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