Amazon sells a lot of stuff,cop punishes suspect in sex video but it doesn't make all that much money from it.
Amazon also helps power the web, and it makes a lot of money from it.
SEE ALSO: Amazon launches Kickstarter sectionAmazon Web Services (AWS) accounted for more than half of the company's overall profits in the second quarter of 2016, helping the company beat expectations.
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For years, investors had waited for Amazon to turn its ability to generate a ton of money through sales into meaningful profit. If the last few quarters are any indication, that time has come.
Amazon shattered earnings expectations with its second-quarter earnings on Thursday, bringing in far more profit ($1.78 per share) than had been anticipated ($1.11).
Amazon brought in a total of $30.4 billion in the quarter, up 31% compared to the same period last year.
CEO Jeff Bezos said in a press release that the company is particularly focused on growth in India.
"It’s been a busy few months for Amazon around the world, and particularly in India — where we launched a new AWS Region, introduced Prime with unlimited free shipping and announced that Prime Video is coming soon, offering Prime members in India exclusive access to Amazon Original Series and Movies — including original content featuring top Indian creators and talent," said Jeff Bezos, founder and CEO of Amazon.com. "The team in India is inventing at a torrid pace, and we’re very grateful to our Indian customers for their welcoming response."
This is Amazon's fifth-straight profitable quarter, a pleasant surprise for investors that had grown nervous that Bezos -- who has openly said he doesn't care much what Wall Street thinks of his company -- had no plans to push the company to make more money than it spends.
Amazon Web Services (AWS), which power much of the Internet, continued to be a bright spot for the company. While its sales are a relatively small part of the company, the business now contributes more profits than its overall North America operations.
In the second quarter, AWS generated $718 million in profit compared to $702 for North America.
Amazon noted that AWS has launched in the Asia Pacific region, which will help continue to grow the service.
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