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SAP competitor Oracle continues to profit from cloud software

Friday, September 15th, 2017 | Gadgets

SAP archrival Oracle continues to grow strongly in cloud software. Group CEO Safra Catz spoke of a "hyper-growth" in this area on Thursday at the headquarters in the Redwood Shores in California. By contrast, new business with classic software licenses declined in the first quarter of the year from June to August. Also the hardware sales weakened.

          Cloud sales – which are Internet-enabled applications – climbed by 51 percent compared to the same period of the previous year. Driven by an increase of 7 per cent to 9.2 billion US dollars. This was more than analysts had expected. Bottom line, 2.2 billion dollars remained as profit and thus 21 percent more. After-hours, the share price rose by 2 percent. Oracle develops enterprise software and databases. Since the takeover of Sun Microsystems, the company has also been producing powerful computers. dpa

          
           

          
          
                
                    
          
            
                

                
        

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