Oracle cloud revenue continues strong growth with more autonomous services promised
It’s the same old story for Oracle as its Q318 financial results were announced; strong cloud revenues, but what about the rest of the portfolio?
Oracle announced total revenues of $9.8 billion (£7bn) over the past three months, with total cloud revenues contributing 16% of the overall figure at $1.6bn. Cloud revenues have gone up 32% year over year; cloud software as a service, the much larger bucket, saw revenues of $1.15bn at a yearly increase of 33%, while cloud platform as a service and infrastructure as a service went up 28% year on year to $415m.
Total on-premise software revenues went up 4% to $6.4bn, while new software licenses, hardware revenues and services revenues all saw a small decline.
The majority of the company’s recent news updates came at CloudWorld in New York back in February. This included the launch of 12 new data centres regions, across Asia, Europe and the Americas, as well as updates to Oracle’s Internet of Things Cloud and to enterprise service level agreements.
The big kahuna, however, was around new features with Oracle’s autonomous database cloud, the company’s big bet. To help make all Oracle Cloud Platform services ‘self-driving, self-securing and self-repairing’, the company explained, would include such features as automated code generation, self-learning chatbots, and security remediation for application development.
Speaking to analysts after the announcement was made, CTO Larry Ellison promised more of the same. “Over the next few months, we expect to deliver autonomous analytics, autonomous mobility, autonomous application development and autonomous integration services,” he said, as transcribed by Seeking Alpha.
“Oracle’s new suite of autonomous PaaS services delivers an unprecedented level of automation and cost savings to our customers,” Ellison added. “Our highly automated suite of autonomous PaaS services reduces cost by reducing human labour and improves reliability and security by reducing human error.
“No other cloud provider has anything like it.”
You can read the full earnings report here.
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