Amazon's Web Services shine, up 49%

For the first time ever, Amazon (NASDAQ:AMZN) reported the quarterly results of its Web Services unit, revealing that revenue rose 49 percent to $1.57 billion.

Overall, Amazon's sales rose 15 percent in the latest quarter to $22.7 billion, beating analysts' estimates, reported Bloomberg. It seems Amazon's recent additions, ranging from the expansion of one-hour delivery to video programming, are paying off.

CEO Jeff Bezos said the company will continue to invest in new warehouses and data centers, in addition to adding new media content and services for Prime members.

Other recent endeavors by Amazon include the introduction of Home Services, a marketplace for on-demand professional services. The goal is to turn more of the 278 million active shoppers on Amazon into Prime subscribers.

Losses in the first quarter were offset by gains in the Web Services division, which generated a profit of $265 million.

Although Amazon is known for its retail, providing warehouse space, packaging to other retailers and selling computing services helps the retailer convert competitors into clients. More than 2 million merchants sell goods through Amazon's e-commerce platform and the company's third-party sellers broke a record in 2014, selling more than 2 billion items worldwide.

For more:
-See this Bloomberg article

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