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A reminder that Amazon sells stuff but is really a web services company

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Amazon sells a lot of stuff, 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.

Amazon 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.

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). Read more…

More about Business, Ecommerce, Amazon Web Services, and Amazon

This post is from Mashable. Click here to read the full text

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