Oracle achieves 7% revenue growth lifted by SaaS

Oracle Cloud for businessBusiness technology major Oracle has posted revenue of $9.2 billion (+7 percent), operating income of $2.8 billion (+7 percent) with operating margin of 31 percent and net income of $2.2 billion (+21 percent) in Q1 fiscal 2018.

Oracle said Cloud plus On-Premise Software revenues rose 9 percent to $7.4 billion. Cloud Software as a Service (SaaS) revenues grew 62 percent to $1.1 billion. Cloud Platform as a Service (PaaS) plus Infrastructure as a Service (IaaS) revenues increased 28 percent to $400 million. Total Cloud Revenues surged 51 percent to $1.5 billion.

HIGHLIGHTS

$1,467 million cloud revenues

$5,917 million on-premise software revenues

$1,067 million Cloud software as a service

$400 million Cloud platform as a service and infrastructure as a service

“The sustained growth in our multi-billion dollar cloud business continues to drive Oracle’s overall revenue and earnings higher and higher,” said Oracle CEO Safra Catz. “In Q1, total revenues were up 7 percent, GAAP EPS was up 19 percent, and non-GAAP EPS was up 12 percent. Oracle is off to a very, very strong start in FY18.”

“With SaaS revenue up 62 percent, our cloud applications business continues to grow more than twice as fast as Salesforce.com,” said OracleCEO, Mark Hurd. “ERP is our largest and most important cloud applications business. We now have about 5,000 Fusion ERP customers plus 12,000 NetSuite ERP customers in the Oracle Cloud. That’s 30 times more ERP customers than Workday.”

Oracle Chairman and CTO Larry Ellison said the company will announce the world’s first fully autonomous database cloud service in two weeks.

Based on machine learning, the latest version of Oracle is a totally automated “self-driving” system that does not require human beings to manage or tune the database. Using AI to eliminate most sources of human error enables Oracle to offer database SLA’s that guarantee 99.995 percent reliability while charging much less than AWS,” Larry Ellison said

Related News

Latest News

Latest News