Enterprise cloud demand swells NetSuite numbers

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Enterprise cloud demand swells NetSuite numbers

Simon Quicke

Channel watchers looking for concrete signs that cloud demand is having a real impact need only look at the latest numbers coming out of NetSuite to get a sense of the increased interest in web based applications.

The cloud ERP specialist saw its subscription and support revenue increase by 23% in the third quarter year-on-year and its revenue jump by the same percentage to $61m for the three months ended 30 September.

Zach Nelson, CEO of NetSuite, said that the vendor had been building up a momentum and had been successful pitching its ERP suites into large enterprises, which boded well "for the remainder of the fiscal year and into 2012".

When it came to the bottom line however the picture was slightly less rosy with GAAP losses only narrowing slightly from $7m to $6.9m.

Related Topics: Cloud Platforms, VIEW ALL TOPICS

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