Oracle Promises IaaS Growth as Cloud Business Rises

Oracle Promises IaaS Growth as Cloud Business Rises

Oracle’s third quarter financial results continue to show that the company’s future is in the cloud. On Wednesday, the company reported massive growth in its software- and platform-as-a-service businesses, promising further gains as its customers do away with their data centers.

The company’s SaaS and PaaS revenue from December 2016 through February 2017 was a little over $ 1 billion, up from $ 583 million during the same period a year prior. Its infrastructure-as-a-service business brought in $ 178 million during the same period, bringing the company’s total cloud revenue for the quarter to almost $ 1.2 billion.

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Computerworld Cloud Computing

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