Good news for shareholders of Oracle: in the second quarter of its fiscal year 2022, revenues actually increased, surpassing the $10.4 billion threshold and registering +6% on an annual basis.
“Autonomous database and new MySQL with HeatWave are the two best performing databases today world”he stated larry ellison, founder, president and CTO of Oracle. “Due to their excellent performance, both products present huge growth opportunities for our cloud infrastructure business. On-premises Oracle Database customers choose our Autonomous Database to migrate to the public cloud and our first-of-its-kind [email protected] service. Amazon Aurora customers are finding that switching to MySQL with HeatWave can increase their performance more than tenfold, with a corresponding reduction in cost. These two databases will support Oracle’s technology and market leadership for years to come.”
Results influenced by a decision of the former CEO
Orache saw its cloud services and license support revenue increase by 6% ($7.6 billion). On the other hand, revenue from cloud and on-premise licenses increased by +13%, reaching the quota $1.2 billion.
Conviction of former CEO Mark Hurd resulting in $824 million GAAP operating loss impacted second quarter GAAP results. Q2 non-GAAP operating profit rose 6% to $4.9 billion and earnings per share rose 14% to $1.21.
“Oracle’s second-quarter non-GAAP earnings per share rose 14% to $1.21, beating image002’s estimate of $0.10“, did he declare Safra Catz, CEO of Oracle. “Our constant currency revenues exceeded estimates by $200 million. These strong results are driven by a 22% increase in revenue from our cloud infrastructure and applications, which is now approaching $11 billion in annualized revenue. We now have 8,500 Fusion ERP customers with +35% revenue growth, 28,400 NetSuite ERP customers with +29% revenue growth, and our Cloud Gen2 infrastructure business is still growing faster and accelerating.“.
“We see excellent signs of recovery in the Italian market and a new impetus to digitization, as we indeed expected also thanks to the investments envisaged by the PNRR. We have seen a strong drive to modernize public administration and accelerate digital across all sectors, especially financial services and utilities. The opening of our first Italian cloud region, in Milan, therefore, could not be more timely and opportune than this.”commented Alexandre HippolyteVP and Country Manager of Oracle Italy.