In this Cloud Wars Minute, Bob Evans reviews Oracle’s fiscal Q3 results.
Highlights
00:35 — Oracle, the world’s fastest-growing major cloud provider, has not only defied the downturn in growth, but has accelerated it. After releasing its Q3 numbers, Oracle’s latest growth rate is 45%.
00:56 — In fiscal Q1, Oracle’s growth rate was 45%. In fiscal Q2, it was 43%. In fiscal Q3, it accelerated back to 45%. Oracle’s accelerated growth rate is a statement of how strong its business is across the board.
01:33 — Here are some of the key points from the earnings release:
- SaaS business was up 42%, to a total of $2.9 billion
- Cloud infrastructure business was up 55%, to a total of $1.2 billion
- Fusion ERP and NetSuite ERP are both now at $700 million
- Customer base growth reached 44,000 cloud ERP customers: 10,000 Fusion customers, 34,000 NetSuite customers
02:41 — Oracle Cloud Infrastructure (OCI) was up 65% in constant currency. Furthermore, the “Cerner business is booming,” and the contract base has grown by $5 billion.
03:30 — Oracle remains the fastest-growing cloud provider in the Cloud Wars Top 10. The strength of Oracle’s cloud business underpins the reason why the company was able to accelerate its growth rate.
