(Bloomberg News) -- Turns out there’s real money in the cloud. The Amazon.com Inc. division that serves up computer power, storage, and software via the Internet, generated $1.57 billion in first-quarter sales.

The first-ever disclosure of results from the Amazon Web Services division showed revenue increased 49 percent from a year earlier. AWS cranked out operating income of $265 million for Amazon, helping offset losses in other businesses. Net losses for the enlarged company came in at $57 million.

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