Amazon Sales Leap 31% Thanks to Strong Showing From Cloud Services

Amazon just killed another quarter. The ecommerce giant’s net sales skyrocketed 31% to more than $30 billion, crushing Wall Street estimates.

The company was boosted by its cloud computing division: Amazon Web Services posted $718 million in operating income, or 56 percent of the company’s overall operating income.

The chart below demonstrates how key AWS has been to improving Amazon’s financial position.

Shares in Amazon are up 2% in after hours trading.