- Oracle's cloud revenue grew $1.36 billion in the first quarter, according to Venture Beat. That represents an increase of 13% from last year.
- The company's infrastructure as a service revenue alone was up 23%, according to CNBC.
- Company founder and CTO Larry Ellison said on an earnings call that he expects the company's PaaS and IaaS businesses to grow rapidly in coming quarters.
Oracle has been pushing its public cloud offerings hard since September when the company introduced its second-generation cloud infrastructure at Oracle World.
At that time, Ellison announced plans to heavily challenge AWS in the Infrastructure as a Service space. "Amazon's lead is over," Ellison said. "Amazon is going to have serious competition going forward."
The company still has a way to go, though.
AWS cloud revenue jumped 42% to $3.7 billion in revenue in the first quarter. But credit Oracle for getting some respectable market traction in a short amount of time. Last year, Oracle was nowhere to be found on Gartner's Magic Quadrant ranking of cloud leaders. The firm said Oracle's offering was too new to earn a ranking at that time. Oracle made the Magic Quadrant ranking this year, though Gartner also cautioned that Oracle's offering is "currently a bare-bones 'minimum viable product.' "