Editor’s note: As Oracle demonstrates growth with SaaS uplift, Larry Ellison looks ahead with database preview, reports Technology Business Research Analyst Meaghan McGrath. Oracle has a major presence in Morrisville built around the former Tekelec company. 

HAMPTON, N.H. – Oracle’s F1Q18/C3Q17 earnings release Thursday delivered Cloud SaaS revenues eclipsing the $1 billion mark, growth of more than $100 million sequentially.

Its cloud segment of greater opportunity according to previous commentary from executives, Cloud PaaS and IaaS, fared worse in the quarter, increasing a mere $3 million sequentially. Despite software license and hardware declines, cloud growth supported total revenue expansion of almost 7% year-to-year.

  • NEW VIDEO: Oracle on Sept. 13 publishes a new video about its latest technology and services in “Roadmap to the Modern Cloud.” Watch at https://www.youtube.com/watch?v=PLbMZnSBMbo

With only two and half weeks until Oracle’s conference and the financial gains of the quarter covered by the other Oracle executives, CTO and Chairman, Larry Ellison, couldn’t contain his excitement for Oracle’s next advancement on the database front.

Ellison revealed that on the first day of the conference (October 1st) Oracle will unveil the next generation of its database, which will be “the world’s first fully autonomous database”.

Ellison went on to explain the efficiencies gained by inject artificial intelligence to automate all setup, tuning, back up and patching processes, promising SLAs that guarantee cost savings and taunting Amazon Web Services as an again inferior database provider.

This new database technology, the anticipated Oracle Blockchain Cloud Service mentioned in conference session descriptions and recently announced Oracle IoT Cloud advancements will all work to drive improved PaaS growth.

Oracle executives are striving for the lofty fiscal year operational goals (including $20 billion in total cloud revenue in a year, $10 billion in SaaS revenue in a year and $10 billion in PaaS and IaaS revenue in a year) set forth in their new compensation plan.