The US producer of enterprise software Oracle had higher quarterly revenue than expected, driven by cloud computing business, which attracted more customers.
Like rivals such as SAP, IBM and Microsoft, Oracle has focused its business on the cloud computing model, providing services remotely via data processing centers instead of selling software installed.
Total revenue of the company with computer software and cloud services platform jumped 49%, to 859 million in the fourth quarter ended May 31. These businesses had 8% share of the total revenue of the company in the quarter.
Oracle expects cloud computing business grow over 65% in fiscal year 2017, above the 52% growth seen in 2016, said co chief executive of the company, Safra Catz.
The company had more than 1,600 new software clients as a service and more than 2,000 new platform clients as service last quarter, said the chief executive of Oracle, Mark Hurd.
The total revenue of Oracle fell 1% to 10.59 billion dollars, but surpassed the average estimate of 10.47 billion analysts, according to Thomson Reuters I / B / E / S.
Oracle ended the quarter with net income of 2.81 billion, or $ 0.66 a share, from 2.76 billion, or $ 0.62 per paper, a year earlier.
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