Oracle Saw Its Turnover Increase Slightly in the Past Quarter
Oracle saw its turnover increase slightly in the past quarter. Especially the turnover from the cloud provides more turnover and profit.
In its first quarter of the current fiscal year, which ended in late August, Oracle’s revenue increased 1.6 percent to $ 9.37 billion. A year ago, that was $ 9.22 billion.
Net profit is $ 2.25 billion, accounting for 24 percent of sales.
Oracle reports that customers are spending more money due to an increase in remote working. But the company’s licenses also fuel the cash.
Three-quarters of the turnover comes from the Cloud services & license support department. Suitable for $ 6.95 billion, two percent higher than a year ago.
Cloud license and on-premise license grows by 9 percent to 886 million. The hardware division shows zero growth with sales of 814 million and the services division shrinks 8 percent by 720 million dollars.