Enterprise software major Oracle has overtaken IBM to become the second largest software company in the world, behind Microsoft.
Oracle made this stunning announcement last week. Oracle says these statistics are based on quarterly results of IBM and Oracle.
The software major also said Oracle’s software business has been growing faster than IBM’s software business.
While IBM slipped to number 3 position in the global software ranking, Microsoft continues to lead the global market.
IBM reported software revenue of $25.7 billion in IBM’s last four quarters against Oracle’s $27.8 billion in Oracle’s last 4 quarters.
“We will continue to develop innovative software products and related cloud services in pursuit of becoming number one,” said Oracle President and CFO Safra Catz.
IBM Software and Oracle Software (in millions):
Sources: IBM investor relations webpage and Oracle investor relations webpage.