- Microsoft beat expectations with $49.36B in revenue (up 18% YoY) with $19.05B in revenue coming from their Intelligent Cloud segment that includes Azure, along with SQL Server, Windows Server, and enterprise services.
- Alphabet may have missed expectations with $68B in revenue (up 23% YoY), but it was buoyed by Google Cloud, which brought in $5.8B in revenue (up 44% YoY) and beat analyst expectations of $5.76B.
- Amazon faced a similar fate as Alphabet with a lackluster quarter due to struggles with its core retail business, but AWS continued to be the juggernaut that it is, hauling in $18.44B (up 37% YoY).
In the midst of a cooling venture market, SaaS startups are holding their own. According to data gathered on Carta’s customers, Series A deals in Q1 2022 dropped 38% from Q4 2021, in comparison to health tech Series As, which fell a staggering 64%. The story is even better for SaaS Seed deals which only fell 14% QoQ. Why might this be? In today’s heightened market uncertainty, investors have extra appreciation for predictable revenue streams to navigate an unpredictable world.