Oracle today said it expects SaaS and PaaS revenue to grow nearly 50 percent in Q3 and close to 60 percent in Q4 against 38 percent in Q2.
While announcing Q2 earnings, Oracle Chairman Larry Ellison expressed ambitions to be head of close rivals such as Workday and salesforce.com.
Oracle completed 100 Fusion HCM deals and over 300 Fusion ERP deals in the second quarter of fiscal 2016. Oracle has more than 1,500 ERP customers in the cloud — that’s at least ten times more ERP customers than Workday.
“We are still on-target to sell and book more than $1.5 billion of new SaaS and PaaS business this fiscal year,” said Oracle Executive Chairman and CTO Larry Ellison. “That is considerably more SaaS and PaaS new business than any other cloud services provider including salesforce.com.”
Enterprise IT major Oracle Corporation today said its revenue dipped 6 percent to $9 billion in Q2 fiscal 2016 – primarily due to the strengthening of the U.S. dollar compared to foreign currencies.
Oracle generated $484 million from cloud software as a service and platform as a service, $165 million from Cloud infrastructure as a service, $1,677 million from New software licenses, $4,683 million from Software license updates and product support, $573 million from Hardware products, $550 million from Hardware support and $861 million from services revenues in the second quarter of fiscal 2016.
Cloud plus On-Premise Software revenues dipped 4 percent to $7 billion.
Total Cloud revenues of Oracle rose 26 percent to $649 million.
Cloud software as a service (SaaS) and platform as a service (PaaS) revenues grew 34 percent to $484 million.
Cloud infrastructure as a service (IaaS) revenues increased 7 percent to $165 million.
Total On-Premise Software revenues fell 7 percent to $6.4 billion.
Hardware revenues of Oracle decreased 16 percent to $1.1 billion.
Services revenues declined 8 percent to $861 million.
Net income of Oracle was $2.2 billion.
Oracle said $4,960 million came from Americas, $2,645 million from EMEA and $1,388 million from Asia Pacific.
During the second quarter, Oracle had 59,999 employees in Americas, 27,541 employees in EMEA and 48,620 employees in Asia Pacific including India.