Home / Financial Report / Larry Ellison: Oracle Technology Powering Cloud

Larry Ellison: Oracle Technology Powering Cloud

Oracle (NASDAQ: ORCL) rolled out its numbers for the third quarter of fiscal 2011, reporting a 37 percent jump in GAAP revenues to $8.8 billion.

“Q3 performance was broad based with all geographies reporting revenue growth of 30 percent or higher, ” President Mark Hurd said. “The sequential revenue growth for Exadata and Exalogic was up over 50 percent. And we expect to see an even higher growth rate for these two game changing technologies in Q4.”

CEO Larry Ellison pointed to the firm’s involvement in cloud computing technology as a major reason for the firm’s success.

“In Q3 we signed several large hardware and software deals with some of the biggest names in cloud computing, ” Ellison said. “For example, Salesforce.com’s new multi-year contract enables them to continue building virtually all of their cloud services on top of the Oracle database and Oracle middleware. Oracle is the technology that powers the cloud.”

Check Also

Foreign Investment Committee Completes Ultra Electronics-Sparton Transaction Review

The Committee on Foreign Investment in the U.S. has finalized its review of the proposed acquisition of …

Report: DoD IG Lauds USAF Acquisition Strategy, Risk Mgmt for Bomber Program

The Defense Department’s inspector general has said the U.S. Air Force developed a “comprehensive” risk management process …

Subscribe to our Newsletter
I will subscribe later