For the quarter, the database giant saw its total revenue grow more than $200 million above its constant currency expectation. Supporting this, Oracle’s strategic Fusion ERP and HCM SaaS cloud applications suite revenues grew over 50% in the quarter, and the company expects Fusion SaaS suites to grow at the same pace throughout FY19.
As the investors are expecting a rough transition of Oracle’s businesses to the cloud, Oracle played a spoilsport mixing its cloud and traditional businesses, reporting a sale of $2.4 billion, which declined 5% year-over-year. The company also combined its cloud service with traditional software support reporting revenue of $6.7 billion, an increase of 8%. Oracle was expected to report cloud revenue growth of 25%, with traditional software licensing declining 9% for the quarter.
The stock was marginally down by 0.5% when the market closed today. After Oracle announced the results, its shares edged up but lost the momentum and dropped about 2% during the after-market hours.