Oracle Q2 Cloud Revenue Up 25%, Cloud Infrastructure Revenue Up 52%, Cloud Application Revenue 15%, Fusion Cloud ERP Revenue Up 21%, NetSuite Cloud ERP Revenue Up 21%
Portfolio Pulse from Benzinga Newsdesk
Oracle reported a strong second quarter with significant growth in its cloud business. Cloud revenue increased by 25%, driven by a 52% rise in Cloud Infrastructure Revenue and a 15% increase in Cloud Application Revenue. Additionally, Fusion Cloud ERP and NetSuite Cloud ERP revenues both grew by 21%.
December 11, 2023 | 9:07 pm
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Oracle's Q2 earnings reveal substantial growth in its cloud segments, with overall cloud revenue up 25%, Cloud Infrastructure up 52%, and Cloud Application Revenue up 15%. Fusion and NetSuite Cloud ERP revenues both increased by 21%.
The reported growth in Oracle's cloud revenues, especially the 52% increase in Cloud Infrastructure, is a strong indicator of the company's successful expansion in the competitive cloud market. This performance is likely to be viewed positively by investors, potentially leading to a short-term increase in Oracle's stock price. The growth in Fusion Cloud ERP and NetSuite Cloud ERP revenues by 21% each further solidifies Oracle's position in the cloud ERP market, which may also contribute to investor confidence.
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