Industry verticals revved up Oracle’s cloud business earlier this year, as the cloud provider struggled to compete for market share with the more dominant hyperscalers.
Segment revenue for Oracle Cloud Infrastructure ballooned by 77% year over year during the three-month period ending May 31, boosting the company’s overall year-over-year cloud revenue by 55%.
AWS, Microsoft and Google Cloud, who together command almost two-thirds of the global market for cloud, have seen revenue growth level out this year, a symptom of a broad optimization trend in response to economic uncertainty.
