Oracle Q4 Cloud Revenue Up 20%, Cloud Infrastructure Revenue Up 42%, Cloud Application Revenue Up 10%
Portfolio Pulse from Benzinga Newsdesk
Oracle reported a 20% increase in Q4 cloud revenue, with cloud infrastructure revenue up 42% and cloud application revenue up 10%.
June 11, 2024 | 8:07 pm
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Oracle's Q4 cloud revenue increased by 20%, driven by a 42% rise in cloud infrastructure and a 10% rise in cloud application revenue.
The significant growth in Oracle's cloud revenue, particularly in cloud infrastructure and applications, is likely to positively impact the stock price in the short term as it indicates strong performance and growth potential in key business areas.
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