A Look Back at Q1 '25 Public Cloud Software Earnings
Clouded Judgement
JUNE 17, 2025
And no, this wasn’t all because of leap year last year (that would only account for a ~3% delta at most) The Hyperscalers (AWS, Azure, Google Cloud) also declined net new adds year over year, but not by as much. Heading into Q1 earnings, analysts had expectations for how each business would perform in 2025.
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