Oracle Gains The Tag Of Second Largest SaaS Company

Oracle Corporation has said that it has become the second larget Software as a Service company in the world as its total revenues for the Q4 2014 went up by 3 percent reaching $11.3 billion on YoY basis.

“Oracle is now the second largest SaaS company in the world. In SaaS, we’re in front of everybody but salesforce.com. In IaaS we’re larger and more profitable than Rackspace. We have by far the most complete portfolio of modern SaaS and PaaS products in the industry,’’ said Larry Ellison, CEO, Oracle.

The software and Cloud revenues of the company shot up by 4 percent reaching $8.9 billion. The cloud SaaS and Platform as a Service (PaaS) revenues also soared by 25 percent touching a monetary value of $322 million.

The company’s overall hardware systems revenues were up 2% to $1.5 billion with hardware systems products up 2% to $870 million, and hardware systems support saw a rise of 2% to $596 million.

‘’We’re making this transition to cloud subscriptions and ratable revenue recognition while continuously increasing our top-line revenue and our bottom-line profits year-after-year,’’ said Safra Catz, President and CFO, Oracle.