Oracle's Cloud Business Shows Momentum as Sales, Profit Beat - Bloomberg

Later in the article: "New software licenses, a measure that’s tied to Oracle’s traditional on-premise [sic] software business, declined 16 percent to $1.41 billion -- smaller than the drop of 20 percent posted in the fiscal second quarter."

"The report marked three straight quarters of revenue gains after more than a year of declines. Oracle has been adding products and pushing customers toward its cloud-based business software and services, which offer computing and storage power from remote sites. Oracle’s infrastructure offering, a product that goes head-to-head with Amazon Web Services, will eventually be the software company’s biggest cloud business, Executive Chairman Larry Ellison said.

"These results show a nice upward inflection in the overall business as new cloud revenues are more than offsetting the declines in software license sales," Rodney Nelson, an analyst at Morningstar, said via email. That performance and Ellison’s comments may "be fueling some additional optimism around the transition," he said."

Oracle's Cloud Business Shows Momentum as Sales, Profit Beat - Bloomberg