Is Oracle’s Cloud Business Doing Well?
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Posted On: 09/16/2016 11:15:14 AM
Is Oracle’s Cloud Business Doing Well?
Oracle’s transition to the cloud is happening much faster than expected. Since 2010, the company is on a spree of acquiring cloud software companies. With the latest earnings, the bigger news is how well the company is performing in its cloud sales as that has been Oracle’s major focus.
Though the company’s cloud business beat the guidance, this quarter’s revenue missed the estimates. Oracle’s Cloud plus On-Premise Software revenues were $6.8Bil, up 5% versus 1Q16. Cloud software as a service (SaaS) and platform as a service (PaaS) revenues grew 77% to $798MM. Total Cloud revenues, including infrastructure as a service (IaaS), rose 59% to $969MM from the prior year period.
Take a look at this informative infograph on Oracle. http://alph.st/bd55ebf1
Oracle’s transition to the cloud is happening much faster than expected. Since 2010, the company is on a spree of acquiring cloud software companies. With the latest earnings, the bigger news is how well the company is performing in its cloud sales as that has been Oracle’s major focus.
Though the company’s cloud business beat the guidance, this quarter’s revenue missed the estimates. Oracle’s Cloud plus On-Premise Software revenues were $6.8Bil, up 5% versus 1Q16. Cloud software as a service (SaaS) and platform as a service (PaaS) revenues grew 77% to $798MM. Total Cloud revenues, including infrastructure as a service (IaaS), rose 59% to $969MM from the prior year period.
Take a look at this informative infograph on Oracle. http://alph.st/bd55ebf1
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