Oracle isn't likely to be buying any other big companies soon, according to founder Larry Ellison.
Oracle reported its first quarter fiscal 2018 financial results on Sep. 14, with revenues coming in at $9.2 billion for a 7 percent year-over-year gain. Net income was up by 21 percent to $2.2 billion.
The hardware business at Oracle continues to struggle, with revenue reported at $943 million for a decline of five percent year-over-year.
With hardware continuing to struggle, Oracle's fortunes are now firmly headed to the cloud, with a total of $1.5 billion in first quarter cloud revenue for the company, for a 51 percent gain over the first quarter of fiscal 2017.
Ellison noted on his company's earning call that the OracleWorld event is coming soon, at which he expects to announce a new version of the Oracle database for the cloud with guaranteed 99.995 percent systems availability time.
He added that 99.995 percent availability means less than 30 minutes of planned or unplanned downtime per year.
"To achieve that level of reliability, Oracle has to automatically tune, patch, and upgrade itself, while the system is running," Ellison said. "AWS can't do any of this stuff, but perhaps the most interesting aspect of autonomous systems like self driving cars on our new self driving database are the economics that surround total automation."
Security Concerns with the Cloud
Security is core area of concern for Ellison when it comes to the cloud as well, especially in light of the recent breach at Equifax.
"Events like Equifax are not going to be an isolated incident; you are going to see more and more things like this," Ellison said. "We've got to do a better job of securing not only our Cloud, but [also] our customer's data centers."
Ellison was also asked on the call about his targets for Oracle, to which he responded with his famous bravado.
"We have a target that says we will be double the market cap of IBM, double the market cap of SAP, " he said. "We think these are stretched targets, and it will take several years to achieve them, but we think we are well on our way."
Some of Oracle's past growth was fueled by acquisition, but that's not going to be the case moving forward.
"There is no one left to buy," Ellison said. "It's not like there are a lot of obvious [choices] — as we focus on the cloud, there are not a bunch of obvious targets we can go out and buy."
"So we’re seeing our best growth in technology that we have developed internally," he added.
Sean Michael Kerner is a senior editor at ServerWatch and InternetNews.com. Follow him on Twitter @TechJournalist.