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Oracle signals further big growth after annual results

Oracle signals further big growth after annual results

Oracle sent its share price up by posting solid fourth quarter and full-year results.

Total quarterly revenues were up 10% to $11.8 billion. Cloud services and license support revenues were up 7% to $7.6 billion. Cloud license and on-premise license revenues were up 25% to $2.5 billion.

Q4 GAAP operating income was $4.5 billion, up 6%. The GAAP operating margin was 38%. GAAP net income was $3.2 billion.

Fiscal year 2022 total revenues were up 7% to $42.4 billion. Cloud services and license support revenues were up 6% to $30.2 billion. Cloud license and on-premise license revenues were up 12% in constant currency to $5.9 billion.

Fiscal year 2022 GAAP operating income was $10.9 billion, and the GAAP operating margin was 26%. The GAAP net income was $6.7 billion.

Oracle CEO Safra Catz said: "These consistent increases in our quarterly revenue growth rate typically have been driven by our Fusion and NetSuite cloud applications. But this Q4, we also experienced a major increase in demand in our infrastructure cloud business, which grew 39% in constant currency.

“We believe this revenue growth spike indicates that our infrastructure business has now entered a hyper-growth phase. Couple a high growth rate in our cloud infrastructure business with the newly acquired Cerner [healthcare technology] applications business, and Oracle finds itself in position to deliver stellar revenue growth over the next several quarters."