Oracle’s increased cloud profits are cool for Catz

Database outfit Oracle reported better than expected quarterly profit and adjusted revenue as the business software maker benefits from its transition to cloud-based products.

Sales of the company’s cloud-computing software and platform service rose nearly 62 percent to $1.19 billion.

However, it was not all plain sailing because its software licensing business fell nearly 16 percent. This is being seen by some analysts that Oracle has managed to move to the cloud to tackle the shrinking licensing business.