As the enterprise software industry moves away from traditional methods of storage, cloud solutions have revolutionized the way that companies approach database administration. IT giant Oracle continues to post impressive numbers as market demand for cloud storage and applications increases. The corporation's second quarter revenue of $9.28 outpaced analysts' predictions of $9.18 billion, climbing 2 percent from the previous quarter, according to Bloomberg.
Over the past ten years, Oracle CEO Larry Ellison has bought over 100 companies at a total cost of $50 billion in order to remain a powerful force in the world of database software solutions. Staying ahead of times has allowed the company to thrive in a highly competitive and fast-moving industry. In addition to offering cloud storage and applications, Oracle also entered the hardware market after acquiring Sun Microsystems in 2010. While their computer servers have produced consistent revenue, Bloomberg noted that hardware sales did not see a significant boost in the second quarter.
Offering every cloud implementation imaginable
The storage and application needs of companies are highly diverse, and part of Oracle's success is due to this acknowledgement. By accounting for a wide variety of cloud requirements, the company has attracted business from firms across industries and around the world. A recent Forbes article highlighted the ways that Oracle has excelled in providing systems, applications and everything in between.
"We think these three product areas – database, cloud applications [bookings up 35 percent], and engineered systems [bookings up almost 35 percent] – will drive Oracle's growth in calendar 2014," Ellison told the news source. He proceeded to elaborate on his strategies. "We'll continue to expand our footprint… Oracle's Fusion cloud applications for HCM, CRM and ERP all have a new simplified user interface, and an integrated social network that makes our enterprise applications as easy-to-use and familiar as Facebook, while enabling better collaboration and teamwork among your employees and your customers.
Setting goals and targeting competition
Between Microsoft and Amazon, Oracle knows that it is up against resilient competitors. IBM and SAP also pose a threat to their hardware and application lines. By continuing to expand on the legacy systems of Sun Microsystems and perfecting the cross-platform integration of their database solutions, the company is confident in its ability to beat out these other industry leaders. At the rate the company is growing, this might be a reality in the near future.