Amazon cloud records 20% sales growth, topping estimates

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said Thursday that revenue in its cloud computing business increased 20% in the third quarter, exceeding analysts’ estimates.

Revenue at Amazon Web Services for the third quarter totaled $33 billion. Analysts polled by StreetAccount had expected $32.42 billion, or growth of 18.1% from a year earlier. Operating income rose 9% from a year ago to $11.4 billion, also beating estimates and accounting for about two-thirds of Amazon’s total operating profit.

AWS is the world’s top provider of cloud infrastructure, but it’s facing intensifying pressure from competitors Google

and Microsoft