MarketWatch First Take: Oracle continues to hammer at Amazon in the cloud

Oracle Corp. is making continued progress in cloud computing, but as it continues to set its sights on Amazon.com as its biggest growth area, its future profit margins could be under attack.

On Wednesday, Oracle’s ORCL, +0.61% better-than-expected earnings were mostly due to its progress in the cloud, including its recent acquisition of NetSuite. But chairman and co-founder Larry Ellison told investors Wednesday that of all the company’s efforts in cloud computing, its infrastructure business that directly competes with Amazon Web Services will be Oracle’s biggest cloud effort.

“Together, SaaS [software as a service) and PaaS [platform as a service] grew 85% this past quarter,” Ellison told analysts on a conference call.

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