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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 US$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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