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Oracle’s increased cloud profits are cool for Catz

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According to an official statement, the company’s Q3 revenue amounted to $9.3 billion on the back of earnings of 69 cents per share.

Total Cloud and On-Premise Software Revenues were US$7.4 billion, up 4% from the year before. The growth was likely helped by Oracle’s $9.3 billion NetSuite acquisition previous year, since this is the first quarter after the closing of the deal.

“The hyper-growth we continue to experience in the cloud has rapidly driven both our SaaS and PaaS businesses to scale”, said Oracle CEO, Safra Catz in prepared remarks with the earnings release. Oracle’s total profit for the quarter was roughly $2.2 billion, up from about $2.1 billion.

“Q3 SaaS/PaaS [software as-a-service/platform as-a-service] revenue was boosted by the NetSuite contribution and Saas/PaaS growth was slightly down on the 81 per cent growth of Q2”. Total cloud revenues, including IaaS, were Dollars 1.19 billion, up 62 percent from a year ago.

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