Oracle announced on Thursday that cloud computing has reached a turning point in its development and that cloud computing is becoming more and more important. Although cloud computing generates only a small portion of revenue.
Faced with the challenge from Salesforce.com, the largest cloud software company, Oracle co-founder and chief executive Larry Ellison responded with a quarterly earnings conference call on Wall Street saying that Oracle will be the first to earn 100 in the cloud Billion-dollar company. The $ 10 billion goal was raised by CEO of Salesforce and Marc Benioff, a former Oracle sales star.
Safra Catz, co-chief executive, said Oracle has changed and that Oracle has made a good start in moving to the cloud. In the new fiscal year starting this month, revenue from cloud services will cover Oracle's loss for other businesses for the first time.
Oracle's stock has fallen 13% in the past year compared to 14% for Salesforce. In the most recent quarter, Oracle's revenue from the new software licenses fell 12% to $ 2.8 billion - the main driver of growth. But Wall Street believes Oracle's cloud business is booming. Compared with the past year, revenues in the cloud area increased by 66% over last year and may increase by 75% -80% in this quarter.
Oracle predicted a 2% rise in stock prices after the recovery in the quarter-on-quarter growth rate. "Much higher than most analysts forecast at 2% growth, revenue is expected to increase by 2% -5%," Catz added. "Compared to the market's expected 59 cents, we think earnings per share will be 56% Floating between -60 cents. "
Ellison believes that as of the end of May, nearly a fiscal year, the company's cloud computing business "rapid growth" trend will continue in the next few years. In the SaaS and PaaS markets, Oracle is "now expected to be the first $ 10 billion cloud services company to receive revenue."
However, the cloud computing growth recovery is not enough to make up for the increasingly serious loss of internal software business. Although revenue surpassed Wall Street expectations of $ 10.6 billion, it is down 1% from a year ago. US stock test earnings increased 3 cents to 81 cents, down from Wall Street's 82 cents forecast.
Despite its rapid growth, Oracle is still lagging behind in the cloud. In the recent quarter, Salesforce averaged $ 7.7 billion in annual revenue, a 27% year-on-year increase, which was closer to the $ 10 billion proposed by the CEO.
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