Amazon's profitable and huge cloud computing business is up 78%

Jeff BezosMichael Seto/Business InsiderAmazon CEO Jeff Bezos

The entire computer industry is chasing Amazon and its monster big-and-profitable cloud computing business, Amazon Web Services.

With its latest earnings released on Thursday, net sales for the quarter hit just over $US2 billion, up 78%, with $US521 million in profits. So far this year, Amazon Web Services (AWS) has brought in $US5.4 billion, dropping $US1.7 billion of profits to the bottom line.

When it first started reporting revenues and profits on its cloud business in the first quarter, it was on track to pull in about $US6 billion for the year.

Unless something unexpected happens in the fourth quarter (which tends to be the biggest quarter of the year for selling stuff to enterprises), it will exceed that, by a mile.

AWS Q3 2015 Q3 2014 YTD 2015 YTD 2014
Net sales $US 2,085 $US 1,169 $US 5,474 $US 3,224
Segment operating expenses (1) 1,564 1,071 4,297 2,804

Segment operating income (loss)

$US 521 $US 98 $US 1,177 $US 420

Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.

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