Oracle, which Bloomberg calls the second world’s largest software developer, summarized the fourth quarter and the whole 2018 financial year.
For the reporting three-month period, which ended on May 31, the sales of Oracle were $11.3 bln, which is by 3% more than the previous year. The net profit of U.S. corporation increased by 5% up to $3.41 bln, finance.ua reports.
As per results of the whole financial year, Oracle obtained profit, amounting to $39.8 bln (+6% in respect to the previous year) and the profit, amounting to $3.8 bln (-59%).
In March-May 2018, the company’s revenues from extending the subscription for cloud services (SaaS, PaaS and IaaS), updating software licenses and support of products increased by 8%, reaching $6.8 bln. The sales of software development licenses at the enterprise cloud licenses decreased by 5% up to $2.5 bln.
Oracle did not report the proceeds in SaaS, Paas and Iaas segments and specified only total volume of the cloud business – about $1.7 bln.
“Some of our largest clients started the process of transferring local databases of Oracle to Oracle Cloud, - CTO of Oracle Larry Ellison said. – For example,AT&T transfers thousands of databases and dozens of thousands of terabytes of data to Oracle Cloud. We consider that these large-scale migrations of Oracle databases to the cloud will become the driver of our business on PaaS and IaaS in 2019 FY”.
