Oracle ERP’s triple-digit growth
Earlier in this series, we discussed Oracle’s (ORCL) Cloud segment revenues in fiscal 3Q17. We also noted that Oracle reported the highest growth in the SaaS space, primarily due to its dominance in the ERP space.
Oracle’s ERP Cloud growth of 280% in fiscal 3Q17 marked the ninth straight quarter in which Oracle’s ERP Cloud revenues grew more than 50% on a sequential basis.
During the company’s fiscal 3Q17 earnings call on March 15, Safra Catz, co-CEO of Oracle, stated, “SaaS and PaaS revenue including NetSuite is expected to grow 69% to 73%, effectively raising my full year guidance from 80% to 81% for the year.” She added, “IaaS is expected to grow 25% to 29%.”
Oracle’s focus on the ERP space is opportune. The ERP sector is expected to witness significant growth by the arrival of the SMAC (social, mobile, analytics, and cloud) revolution, which led companies to shift from on-premise ERP to cloud-enabled ERP.
ERP’s new customer win highlights Oracle’s increasing market share
Oracle (ORCL) noted that 564 new customers had selected its ERP offerings (excluding NetSuite), 120 of which were expansions. Notably, 50% of them were new customers to the company’s ERP platform, which highlights Oracle’s market share win. ClubCorp, Cummins, Lufthansa, and Dish (DISH) selected Oracle’s ERP solutions in fiscal 3Q17.
Along with Google, Oracle (ORCL) reported the highest growth in the SaaS space.
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