Oracle reported solid revenue and profit growth for its fiscal first quarter on the back of its shift to the cloud: total cloud revenues, including IaaS, jumped over 50 percent to USD 1.5 billion, with SaaS revenues soaring 62 percent and PaaS rising 28 percent, Total revenues, including on-premise software and other equipment, advanced 7 percent year-on-year to USD 9.21 billion. The operating profit also lifted 7 percent, to USD 2.8 billion while the net profit advanced 14 percent to USD 2.7 billion or 0.52 per share.
Oracle CTO Larry Ellison said the company will announce the world’s first autonomous database cloud service. “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% reliability,” for a cheaper price than some of the competition, he said.
The company declared a quarterly cash dividend of USD 0.19 per share.
