Oracle has turned in another stellar quarter, beating Wall Street expectations on strong cloud infrastructure performance.
Oracle’s total revenue came in at $11.8 billion, up 5% year-over-year. Net income came in at $3.2 billion, representing an earnings per share of $1.16. Interestingly, the company’s cloud infrastructure business was the big winner, growing some 39%.
“We continued to improve our top line results again this quarter with total revenue growing 10% in constant currency,” said Oracle CEO, Safra Catz. “These consistent increases in our quarterly revenue growth rate typically have been driven by our market leading 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 that 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 applications business—and Oracle finds itself in position to deliver stellar revenue growth over the next several quarters.”
With Q4 results tallied, Oracle’s fiscal year 2022 saw a 5% increase in total revenue. Cloud services and license support revenue increased 5%, while cloud license and on-premise license review grew 9%.
Similarly, fiscal year 2022 operating income came in at $10.9 billion, with an operating margin of 26%. Net income was $6.7 billion, with earnings per share of $2.41.
