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Oracle co-founder, chairman, and CTO Larry Ellison delivers a keynote at Oracle OpenWorld on October 22, 2018 in San Francisco.
CloudOracle Sees Stronger Sales Growth in Cloud TransitionOracle Sees Stronger Sales Growth in Cloud Transition
Oracle reported a strong sales forecast, signaling that it expects greater customer demand in its transition to becoming a cloud provider•Revenue from cloud services and license support, which includes maintenance fees for traditional software, grew 2.7 percent to $6.64 billion•Oracle’s new cloud and on-premises licenses sales fell 8.5 percent to $1.22 billion•The company’s founder Larry Ellison said cloud transition had been slow because it didn’t have good enough infrastructure until recently, but analysts question that explanation.
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