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For software companies, this phenomenon can be a tailwind, as it drives accelerated deal closures and increased sales velocity, sometimes with less price sensitivity from buyers looking to quickly deplete their budgets. When companies reported Q4 ‘23 quarters, sentiment started to emerge that software was “bouncing back.”
Subscribe now Cloud Giants Report Q1 + Early Look at Software Results Q1 earnings seasons has officially kicked off! We now have results from the three hypersclaers (AWS / Azure / GCP). First, companies have largely completed the lion's share of their costoptimization and turned their attention to newer initiatives.
The 62 companies that I’ll discuss here (which is not an exhaustive list, but is still comprehensive) all reported quarterly earnings sometime between April 24th – June 10th. These charts clearly show the ZIRP pull forward, the ensuing cloud costoptimizations, and then the recovery.
Subscribe now Cloud Giants Update “What we're seeing in the quarter is that those costoptimizations, while still going on, are moderating and many maybe behind us in some of our large customers. You can see more detail about their net new ARR added each quarter below Google Cloud Growth came in at 28%, which was the same as Q1.
Hyperscalers Report Quarterly Earnings This week we saw AWS (Amazon), GCP (Google) and Azure (Microsoft) report earnings. At the same time, I’d guess we’re seeing discounts on egress fees and a lot of customers shifting from spot pricing (highest marginal cost) to committed contracts (lower marginal cost).
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