(Bloomberg) -- Oracle Corp. reported profit that topped estimates and posted strong gains in revenue from cloud-based businesses, signaling that it’s making progress in the transition away from traditional software.

Profit, excluding some items, was 64 cents a share in the period that ended Feb. 29, surpassing analysts’ average projections by 2 cents. Sales of key cloud-based products exceeded the company’s outlook and Co-Chief Executive Officer Safra Catz said growth rates could rise further.

Register or login for access to this item and much more

All Information Management content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access