In its Q1 financial statement, Amazon noted that its Amazon Web Services unit generated revenue of $2.57 billion, up 64% year-over-year. AWS is also the most profitable business at Amazon, with operating income for the quarter coming in at $604 million.
Overall, Amazon's net sales increased 28% to $29.1 billion in the first quarter, compared with $22.7 billion in first quarter 2015. Excluding the $210 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 29% compared to first quarter 2015. Net income was $513 million in the first quarter, or $1.07 per diluted share, compared with net loss of $57 million, or $0.12 per diluted share, in first quarter 2015.
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