Amazon closed out its fiscal year with a strong quarter powered by a league-leading cloud business that delivered almost 75 percent of the e-commerce giant's profits and, for the first time, surpassed a $20 billion run rate.
Amazon Web Services notched 45 percent year-over-year growth in the fourth quarter – an acceleration from the previous quarter that came at the same time margins expanded, according to financials disclosed Thursday.
AWS owned roughly one-third of the market at the end of the fourth quarter, according to Synergy Research. Over the last fiscal year, AWS clawed up its overall market share by one-half of a percent.
AWS revenue, again, exceeded the next four closest competitors combined, even as Microsoft made huge strides.