Larry Ellison has predicted his company’s cloud ERP business will grow faster than projected, being “a lot bigger” than $20 billion in five years.
Oracle’s cloud ERP business has been gaining traction, building on the company’s wide portfolio of products and services. The company recently released its quarterly results Thursday, handily beating analysts’ expectations, thanks in no small part to the performance of its cloud business.
Speaking to investors following the repot, co-founder Larry Ellison said he believes Oracle’s cloud ERP business will be worth far more than current projections and growth rate would indicate, according to ZDNet.
“I think it’s going to be a lot bigger than that,” Ellison said. Ellison then went on say that the company’s plans revolved around partnerships with other companies, especially in the financial services and and logistics industries, partnerships that will help it accelerate its growth beyond the $20 billion mark.
Oracle has increasingly been making waves in the cloud industry, poaching major customers from competitors and, most recently, pointing out the reliability of its platform compared to market leading AWS.
If Ellison’s predictions are correct, Oracle could be poised to make serious headway against the top three cloud companies.