Oracle Meets Market Expectations in the Third Quarter and Shows a Stabilized Cloud Business. The US Software Giant Recorded a Seven Percent Increase in Revenue Compared to the Previous Year, Reaching $13.28 Billion (€12.15 Billion). The Figures Were Announced on Monday in Austin, Texas by Competitor SAP.
On average, the analysts had expected these results. In particular, the important cloud business with software and computing services, which is operated over the Internet, recovered after the recent setbacks. Oracle competes primarily with SAP in the area of enterprise management software. Revenues from the cloud business increased by 25 percent to 5.1 billion U.S. dollars.
This slightly exceeded analysts' forecasts. Overall, Oracle increased net profit by 27 percent to $2.4 billion. Due to these positive results, Oracle's stock price rose eleven percent after the close of trading.
The company has strongly positioned itself in the cloud business in recent years and has been able to significantly increase its revenue. The revenue growth of seven percent in the last quarter shows that the company is on the right track. Oracle has also built up its cloud business in the past to differentiate itself from the competition and to offer its customers better services.
In recent months, however, there have been some setbacks that affected the company's stock price. The current quarterly figures show, however, that Oracle has been able to overcome these challenges and is now back on a stable growth path.
Oracle CEO Safra Catz Discusses Recent Results, Emphasizing the Importance of Cloud Business for the Company. By focusing on the cloud, Oracle has been able to attract more and more companies as customers, contributing to further growth. Investments in cloud infrastructure and continuous improvement of services have paid off and will continue to play an important role for the company in the future.
Analysts are confident that Oracle will continue to be successful, as the company operates in a growing market and consistently introduces new technologies and innovations. The high expectations for the company are also reflected in the strong rise in stock prices. Oracle has proven that with its solid business model and focus on the cloud, it will be successful in the future as well.
This positive development from Oracle demonstrates that the company is ready to adapt to the challenges of the constantly evolving technological landscape and to achieve further growth. With a strong cloud business and impressive quarterly results, Oracle is well-equipped for the future. The investment opportunities in this innovative and high-growth company are promising.
