Oracle (ORCL) has announced its cloud and software revenues increased 4 percent to $8.9 billion in the fourth quarter of fiscal 2014.

The company also noted its generally accepted accounting principles (GAAP) cloud software-as-a-service (SaaS) and platform-as-a-service (PaaS) revenues rose 25 percent to $322 million during the quarter.

“Oracle is now the second-largest SaaS company in the world,” CEO Larry Ellison said in a prepared statement. “We plan to increase our focus on the cloud and become number one in both the SaaS and the PaaS businesses.”

Ellison added his company is “larger and more profitable” than Rackspace (RAX) but still sits behind Salesforce.com (CRM) in the SaaS market.

Rackspace reported $421 million in net revenue during the first quarter of 2014, which represented a 16 percent year-over-year increase.

Graham Weston, Rackspace’s CEO, said he expects his company to boost its net revenue in the second quarter as well.

“We are encouraged by qualitative factors, including the thousands of new customers we added in the [first] quarter,” Weston said in a prepared statement. “We also added significant new workloads for existing customers.”

Technology research firm Gartner said Salesforce.com grew more than any other software vendor between 2012 and 2013.

Salesforce.com is projecting its total revenue for fiscal 2015 to range between $5.30 and $5.34 billion, which would represent roughly 31 percent year-over-year growth.

“We delivered 37 percent year-over-year growth in revenue and 67 percent year-over-year growth in operating cash flow in the first quarter [of fiscal 2015],” Salesforce.com Chairman Marc Benioff said. “[Salesforce.com] is the fastest growing top 10 software company in the world.”

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