Oracle Q3 Cloud Revenue Up 25%, Cloud Infrastructure Revenue Up 49%, Cloud Application Revenue Up 14%
Portfolio Pulse from Benzinga Newsdesk
Oracle reported a significant increase in its cloud revenue for Q3, with overall cloud revenue up by 25%. Specifically, cloud infrastructure revenue saw a notable rise of 49%, while cloud application revenue increased by 14%.
March 11, 2024 | 8:06 pm
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Oracle's Q3 earnings report shows a robust increase in cloud revenue, indicating strong growth in its cloud services sector.
The significant increase in Oracle's cloud revenue, especially in cloud infrastructure, suggests a growing demand for its cloud services. This positive performance in a high-margin sector like cloud computing is likely to be viewed favorably by investors, potentially leading to a short-term increase in Oracle's stock price.
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