Cloud growth continues for the giants ☁️

Today: Cloud development at Google and Microsoft ☁️, Tenable Q3 earnings snapshot 🪙, Alison Wagonfeld to join Bill.com board of directors 👩‍💼

This is the Cloudly Update. Helping you stay above the Clouds.

Today we bring you:

Microsoft recorded a 24% increase in Q1 cloud revenue

Alphabet records slow revenue growth in Q3 but witnesses good momentum in the cloud

Alison Wagonfeld to join Bill.com board of directors

Tenable Q3 earnings snapshot

Fargo, Google powered new virtual assistant of Wells Fargo

---☁️---

This quarter Microsoft Cloud revenue was recorded at $25.7 billion, up 24% (up 31% in constant currency) year-over-year

Revenue in Intelligent Cloud was $20.3 billion and increased by 20%. Server products and cloud services revenue increased 22% (up 28% in constant currency). It was driven by Azure and other cloud services revenue growth of 35% (up 42% in constant currency)

Productivity and Business Processes saw 9% revenue increase

  • Office Commercial products and cloud services revenue increased by 7% (up 13% in constant currency)

  • Office Consumer products and cloud services revenue increased by 7% (up 11% in constant currency)

  • Dynamics products and cloud services revenue increased 15% (up 22% in constant currency)

Windows Commercial products and cloud services revenue increased by 8% (up 15% in constant currency)

---☁️---

Alphabet recorded $69.1 billion in revenue, a growth of only 6% from 41% a year prior. But healthy fundamental growth was seen in Search and Momentum in Cloud.

Google cloud brought a notable increase in revenue at $6,868 million v/s $4,990 million Y-o-Y. But losses widened to $699 million from $644 a year prior.

Cloud generates revenues from fees received for Google Cloud Platform services, Google Workspace collaboration tools, and other enterprise services.

---☁️---

BILL, a leader in financial automation software for SMBs, announced that Alison Wagonfeld had joined the company's board of directors.

Alison is an entrepreneurial leader with 25 years of diverse business experience. She is currently Vice President, Marketing at Google and the Chief Marketing Officer (CMO) for Google Cloud. Before Google, she was an operating partner at Emergence Capital, helping with strategy and go-to-market plans

---☁️---

Tenable recorded a 26% increase in revenue (Y-o-Y) at $174.9 million and beat market expectations. The company reported non-GAAP income from operations of $23.1 million compared to $13.7 million in Q3 of 2021. Non-GAAP EPS was at $0.15, excluding non-recurring items.

Calculated current billings were $207.3 million year-over-year, a 24% increase.

Cash and cash equivalents and short-term investments were at $548.0 million.

The company issues mixed guidance for Q4, sees EPS of $0.06-$0.07, excluding non-recurring items, and sees Q4 revenues of $180-$182 million.

The company gave year-end revenue guidance of $678.6 million to $680.6 million. And sees non-GAAP income from operations in the range of $62.7 million to $63.7 million & diluted EPS in the range of $0.32 to $0.33.

---☁️---

Wells Fargo has partnered with Google LLC's cloud business to build an artificial intelligence-powered virtual assistant called Fargo. It would help consumers with banking tasks, and its mobile app will be rolled out soon.

Fargo, powered by Google Cloud's Dialogflow service, includes a visual interface. It enables developers to build several core components without writing code.

Fargo will also support Spanish shortly and help clients with tasks such as calculating budgets.

Reply

or to participate.