Sector: Technology|Industry: Software - Infrastructure|Market Cap: $521.49B|Employees: 159K
Oracle Corporation provides products and services that address enterprise IT needs, including enterprise applications and infrastructure offerings. These are delivered worldwide through flexible and interoperable IT deployment models, including on-premise, cloud-based, and hybrid deployments, giving customers choice and flexibility. The company holds a strong market position due to its comprehensive offerings and is known for its innovation and customer base.
Total revenues increased by 7% year-over-year to $13,307 million. Cloud services and license support revenues saw a 10% YoY increase, significantly contributing to the overall growth. This growth was primarily due to increases in cloud services revenues and license support renewals.
Operating income increased to $3,991 million, representing a 21% YoY increase. While operating expenses also increased, the growth in revenue outpaced the expense increase, leading to margin expansion.
Net income increased to $2,929 million, exceeding expectations. This strong performance is attributed to the robust revenue growth and effective cost management.