Amazon’s fast-growing cloud business keeps company profitable

Amazon’s cloud services business is on fire.



Amazon Web Services holds a 45% market share of the worldwide public market for Infrastructure as a service (IaaS), which is greater than Microsoft, Google and IBM’s shares combined, according to a quarterly analysis by Synergy Research Group.



Amazon Web Services’ revenue totaled a whopping $3.2 billion in its most recent quarter, up 55% from the year ago period, and accounted for nearly 10% of Amazon’s total revenue of $32.7 billion.



According to a report by geekwire, without Amazon Web Services’ extra financial push, the company would have posted a $286 million operating loss, rather than a $575 million operating profit, in the third quarter.