Oracle accelerates cloud revenue growth

Wednesday 16 March 2016 | 08:50 CET | News
Oracle announced revenues down 3 percent year-on-year in its fiscal third quarter to February to USD 9.0 billion. The stronger US dollar depressed sales; excluding currency effects, revenue was up 1 percent. Total cloud revenues rose 40 percent to USD 735 million, while on-premise software revenues were down 4 percent to USD 6.3 billion. Net profit was down 14 percent to USD 2.1 billion or USD 0.50 per share after a rise in interest expenses. The company said it saw an acceleration in cloud revenue growth in the quarter, helping boost gross margins. Further growth in this area is expected to

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Categories: Fixed / IT
Companies: Oracle
Countries: World
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