Oracle’s cloud revenues rising 51% a year as company readies cloud database service
Cloud services are now Oracle’s fastest growing sector and have helped to push the company’s revenues up substantially in the first quarter of the financial year.
And chairman and CTO Larry Ellison said as part of the results announcement: “In a couple of weeks, we will announce the world’s first fully autonomous database cloud service.” However, he gave no further details.
Though the company’s total revenues were up a healthy 7%, cloud related sectors of the business went up even faster. Total cloud revenues for the whole company were up 51% on the same quarter in the previous year to reach $1.5 billion – 16.3% of the company’s total revenues of $9.2 billion.
“The sustained hyper-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.
The best performing sector in terms of rate of growth was cloud software as a service, which went up 62% in revenues compared with the same quarter in the previous year to $1.1 billion. Cloud platform as a service plus infrastructure as a service revenues were up 28% to $400 million. Cloud plus on-premise software revenues were up 9% to $7.4 billion.
Catz’s fellow CEO – Oracle has two – Mark Hurd said “Our cloud applications business continues to grow more than twice as fast as salesforce.com.” Enterprise resource planning (ERP) is the “largest and most important cloud applications business”, he added. “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.”
Meanwhile Oracle announced that it has joined the Cloud Native Computing Foundation (CNCF) as a platinum member. “By joining the CNCF, we’re making it easier for enterprises to leverage the power of container-native technology to simplify their infrastructure environments to run in true hybrid cloud mode – in any cloud,” said Mark Cavage, vice president of software development at Oracle.
Chris Aniszczyk, COO of the CNCF, said: “Oracle has decades of experience meeting the needs of world-class enterprises. We are excited to have Oracle join CNCF as a platinum member, and believe that their key role will help define the future of enterprise cloud.”