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Oracle swallows sales spurt from one of its niche categories: Cloud

Lot of invoices to customers, still a small slice of database giant's biz

By Shaun Nichols in San Francisco

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Oracle topped analyst expectations and continued its push into the cloud computing space with another strong quarter.

Execs, talking to analysts on Thursday, were optimistic in the database and middleware titan's ability to continue to move from its massive on-prem empire to more cloud and service offerings. Just don't talk about hardware.

For the fiscal 2018 Q2 [PDF], ended November 30, Hurd n' Katz today reported:

"Our success in the quarter was based on the increasing scale and the gathering momentum in our cloud business," co-CEO Safra Katz said. "I expect the business to continue to grow and strengthen over the coming quarters.”

Co-CEO Mark Hurd also talked up Oracle's cloud prospects, noting that the biz still has one very large and mostly untapped market: its on-prem customer based.

"Most of what is in our revenue base did not come from our on-prem user base," Hurd said. "We are hopeful we will start to see a higher percentage of Oracle's user base moving."

Despite the big talk on cloud, however, shares in Oracle were down 6.5 per cent (at $46.88 apiece) in after-hours trading as analysts expected higher cloud returns. ®

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