Amazon.com’s Amazon Web Services business already is a $5 billion-a-year enterprise and could be a $6-billion business by the end of 2015. AWS is Amazon’s fastest growing segment and enjoys its highest profit margins, according to the company’s first-quarter results.
Shares surged after hours as investors were cheered by the online retailer’s results, which included a 15% revenue and a small loss. Both met guidance. Shares were up 7.2% to $418.05 after hours. A close at that level on Friday would be a record.