Announcing its fiscal 2017 Q2 results, Oracle said total revenue was $9.0 billion, flat in U.S. dollars and up 1% in constant currency. Cloud software as a service (SaaS) and platform as a service (PaaS) revenue was $878 million, up 81% in U.S. dollars and up 83% in constant currency.
Observing that for four consecutive quarters Oracle cloud SaaS and PaaS revenue growth rate has increased, Oracle CEO Safra Catz noted that as the company gets bigger in the cloud, it is also growing faster in the cloud.
Total cloud revenue, including infrastructure as a service (IaaS), was $1.1 billion, up 62% in U.S. dollars and up 64% in constant currency. The combination of cloud and on-premise software revenue was $7.2 billion, up 2% in U.S. dollars and up 3% in constant currency.
Oracle has passed salesforce.com and become number-one in SaaS cloud applications sales to customers with more than 1,000 employees according to the latest IDC report, said Oracle CEO, Mark Hurd.
“In other words, this year," said Hurd, "we are selling more enterprise SaaS than any cloud services provider in the world. We expect to book over $2 billion in new annually recurring cloud business this year alone. And, with the acquisition of NetSuite, we plan on being the number-one cloud applications service provider for companies with less than 1,000 employees as well.”
Oracle’s database as a service cloud revenue was $100 million for the quarter, said Larry Ellison, Oracle chairman and CTO, adding that the company expects its database as a service and IaaS businesses will grow even faster than its SaaS business.
A replay of the conference call discussing the Q2 results is available by dialing (855) 859-2056 or (404) 537-3406, Passcode: 34339280.
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