Oracle’s on-premises cloud service, Cloud@Customer, took its next leap Wednesday with the introduction of an offering that closely matches the capabilities and economics of public cloud.

Revenue increased 6% from $13.3 billion in the same period last year. Net income rose 22% to $2.94 billion, or $1.02 a share, from $2.4 billion, or 85 cents a share, a year earlier. Revenue in ...