The results announced by Oracle in the presentation of the data for the first quarter of its fiscal year 2021, which ended on August 31; show that the company has returned to the growth path following the impact of the coronavirus in its business areas. During these three months, Oracle has seen its net income increase by 4% to 2.9 billion dollars. It has also seen its shares rise 15%: $ 0.93 for each security in total. Among other reasons, this improvement is due to the acquisition of customers in its cloud division, both to use its infrastructure and its applications.
In total, Oracle’s revenue in the three months reported reached $ 9.37 billion, a figure that represents an increase in the company’s revenue of 2% year-on-year. At Oracle they expect their shares to rise between 0.98 and 1.02 dollars for each security in the second quarter. Meanwhile, the company’s ERP Fusion Cloud suite has grown 33% year-over-year, and NetSuite apps have improved 23%. The Cloud Services division and the Licensing Support area, which produce the majority of revenues, increased sales by 2% to $ 6.95 billion. The area of cloud and local licenses entered 886 million dollars, 9% more.
Safra Catz, CEO of Oracle, highlighted from these results that “the first quarter was fantastic, with total revenues that exceeded forecasts by more than 150 million dollars. And earnings per share that exceeded forecasts by $ 0.07 per share. Our cloud applications divisions continued their rapid revenue growth.
Catz also recalled that they now have “7,300 Fusion ERP and 23,000 NetSuite ERP customers on Oracle Cloud.” In addition, he noted that its infrastructure areas “are also growing rapidly, as Zoom’s revenues have more than doubled between the last quarter of last year and the first of this. I have a high level of confidence that our revenues will accelerate as we move beyond COVID-19.
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