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Oracle reports a solid year of cloud services growth

Oracle reports a solid year of cloud services growth

Oracle has posted a solid fourth quarter and full-year set of results, demonstrating further cloud services growth.

For the fourth quarter ended 31 May, revenues were up 8% year-over-year to $11.2bn.

Cloud services and license support revenues jumped 8% to $7.4bn. Cloud license and on-premise license revenues were up 9% to $2.1bn.

Q4 GAAP operating income increased 5% to $4.5bn and the GAAP operating margin was 40%.

GAAP net income shot up 29% to $4bn, and earnings per share jumped 39% to $1.37.

For the full year, total revenues were up 4% year-over-year to $40.5bn.

Cloud services and license support revenues were up 5% to $28.7bn. Cloud license and on-premise license revenues rose 5% to $5.4bn.

The annual GAAP operating income was up 9% to $15.2bn, and the operating margin was 38%.

The 12-month net income jumped 36% to $13.7bn, and the annual earnings per share increased 48% to $4.55.

“Our Q4 performance was absolutely outstanding with total revenue beating guidance by nearly $200m,” said Oracle CEO Safra Catz. “Our multi-billion dollar Fusion and NetSuite cloud applications businesses saw dramatic increases in their already rapid revenue growth rates.”

Catz said Fusion ERP was up 30% in Q3 and up 46% in Q4, and that Fusion HCM increased 23% in Q3 and jumped 35% in Q4. NetSuite was up 24% in Q3 and rose 26% in Q4, he added.

“Revenue from our Gen2 Cloud Infrastructure business, including Autonomous Database, grew over 100% in Q4,” said Catz.

Oracle expects FY22 revenue to grow faster than in FY21.