Oracle Q1 Cloud Infrastructure Revenue Up 45%, Cloud Revenue Up 21%, Cloud Application Revenue Up 10%
Portfolio Pulse from Benzinga Newsdesk
Oracle reported a 45% increase in Q1 Cloud Infrastructure revenue, a 21% rise in overall Cloud revenue, and a 10% growth in Cloud Application revenue.
September 09, 2024 | 8:07 pm
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Oracle's Q1 results indicate significant growth in its cloud business, with Cloud Infrastructure revenue up 45%, overall Cloud revenue up 21%, and Cloud Application revenue up 10%.
The substantial growth in Oracle's cloud revenues, particularly the 45% increase in Cloud Infrastructure, suggests strong demand and successful execution in this segment. This is likely to positively impact Oracle's stock price in the short term as investors react to the robust performance.
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