On June 17, Oracle announced its earnings for its 2015 financial fourth quarter. This provides an opportunity to evaluate how things are going with its cloud computing plan.
in the last part of 2014 Oracle acquired major players in the cloud, like Datalogix, a data analytics firm that counts major corporate players among its clients.
The Oracle cloud engine has four distinct parts: Software-as-a-Service, Platform-as-a-Service, Infrastructure-as-a-Service and, most recently, Data-as-a-Service. It is hoped that whatever level of solution that a company needs (such as those solutions needed by mid-level companies) Oracle will be able to provide it.
Oracle's latest financial report, released just this week, shows how the software giant is performing in the cloud market.
Oracle thinks that cloud revenue will last for a longer time, even though it may not show up on its balance sheet as fast.
Oracle CEO,Safra Catz said: "We sold an astonishing $426 million of new SaaS and PaaS annually recurring cloud subscription revenue in Q4," "We expect our rapidly increasing cloud sales to quickly translate into significantly more revenue and profits for Oracle Corporation. For example, SaaS and PaaS revenues grew at a 34% constant currency rate in our just completed Q4, but we expect that revenue growth rate to jump to around 60% in constant currency this new fiscal year."
Oracle CEO,Safra Catz said: "Coming into Q4, we forecast selling $300 million of new SaaS and PaaS annual recurring revenue," "We dramatically beat that forecast by selling a cloud industry all-time-record amount of $426 million of new SaaS and PaaS business. That is a year-over-year bookings growth rate of over 200%. As our multi-billion dollar cloud business gets bigger, our SaaS and PaaS revenue growth rates are on their way up to 60% in constant currency. Compare this to our primary cloud competitors' whose own revenue growth forecasts are on their way down to 44% and 22%."
Oracle Executive Chairman and CTO Larry Ellison said:"We expect to book between $1.5 and $2.0 billion of new SaaS and PaaS business this fiscal year," "That means Oracle would sell more new SaaS and PaaS business than salesforce.com plans to sell in their current fiscal year -- the only remaining question is how much more. Oracle's planned SaaS and PaaS revenue growth rate is around 60% in constant currency; salesforce.com has a planned growth rate of around 20%. When you contrast those growth rates it becomes clear that Oracle is on its way to becoming the world's largest enterprise cloud company."
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