“NetSuite had a spectacular quarter”, Mark Hurd, CEO of NetSuite parent Oracle, said during an earnings webcast. Oracle does not report actual revenue for the cloud product. It did say that NetSuite bookings were up 39 percent in the most recently ended quarter, after a 70-percent increase in the fourth quarter. Over the same period, the number of Oracle Fusion customers grew to about 5,500, a 10-percent rise from roughly 5,000 a year earlier. Hurd predicts NetSuite will accelerate revenue growth and interestingly, talked about the revenue there as growing materially. Does that mean NetSuite figures may be released in future quarters if he meant material in the usual sense for a public company? The company said ERP revenue was up more than 30 percent and vertical product revenue was up more than 40 percent. Executive chairman Larry Ellison touted his company as “on its way to becoming the world’s largest SaaS applications company”, an obvious challenge to SAP. Ellison claimed Oracle is No. 1 in cloud market share.
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NETSUITE ERP CUSTOMERS UP 25 PERCENT
NetSuite had strong growth for the first quarter ended August 31 with a 26-percent increase in revenue. Figures released for this year and the year-ago first quarter also show the number of NetSuite ERP customers rose to more than 15,000 from 12,000, up more than 25 percent.
Jacob Roberts is a freelance writer, content creator, and travel enthusiast. He graduated from Brigham Young University with a B.S. in Economics and a double-minor in Business Management and Music. When he is not traveling to a new city or country you can find him reading a new book, training for a triathlon, or improving his ping-pong skills.