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Jeff Bezos: ‘(AWS) is a £5bn business’ Photo: Sam Churchill/Flickr

Amazon reports ‘better than expected’ results following heavy investment cloud technology

Amazon has reported a loss of $57m (£38m) in the first quarter of 2015, while revenues jumped 15% despite major investment in the development of its cloud services. The retail giant said revenue from sales of Amazon web services (AWS) for the first three months of 2015 was $1.57bn. Founder Jeff Bezos called AWS a ‘$5bn business’ and he noted that it is ‘still growing fast,’ while sales of its web services offering increased by 49% from a year earlier. Revenue increase was better-than-expected, rising by 15% to $22.7bn, boosted by sales in North America. For the first time, the figures confirm that Amazon's… #international #retail #technology

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