A third of Oracle revenue now comes from cloud services
CIO
SEPTEMBER 14, 2022
After years of investments, Oracle’s bet on cloud computing has started to pay off with nearly a third of its revenue in the first quarter of fiscal year 2023 coming from cloud services. Total cloud revenue (SaaS and IaaS combined) stood at $3.6 billion in the quarter, up 50% year-on-year, without accounting for currency fluctuations. The company expects to hit an annualized revenue runrate of over $20 billion combining all of its cloud services, chairman Larry Ellison said on Monday, adding tha
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