ORCL Earnings: Oracle reports strong revenue and profit growth for Q4

Oracle Corporation (NYSE: ORCL) on Monday reported higher revenues and net profit for the fourth quarter of 2023. The results also exceeded analysts’ consensus estimates. The software giant said its fourth-quarter revenues increased 17% annually to $13.8 billion. Revenues of Cloud Services and License Support, the company’s core business segment, grew 23% Adjusted earnings increased […]

June 12, 2023 1 min read

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Oracle Corporation (NYSE: ORCL) on Monday reported higher revenues and net profit for the fourth quarter of 2023. The results also exceeded analysts’ consensus estimates. The software giant said its fourth-quarter revenues increased 17% annually to $13.8 billion. Revenues of Cloud Services and License Support, the company’s core business segment, grew 23% Adjusted earnings increased […]
· June 12, 2023

Oracle Corporation (NYSE: ORCL) on Monday reported higher revenues and net profit for the fourth quarter of 2023. The results also exceeded analysts’ consensus estimates.

Oracle Q4 2023 earnings infographic

The software giant said its fourth-quarter revenues increased 17% annually to $13.8 billion. Revenues of Cloud Services and License Support, the company’s core business segment, grew 23%

Adjusted earnings increased to $1.67 per share in the most recent quarter from $1.54 per share a year earlier. Net income, including one-off items, was $3.32 billion or $1.19 per share, compared to $3.19 billion or $1.16 per share last year.

“Our GPU clusters are built using the highest-bandwidth and lowest-latency RDMA network—and scale up to 32,000 GPUs. As a result, cutting edge companies doing LLM development such as Mosaic ML, Adept AI, Cohere plus 30 other AI development companies have recently signed contracts to purchase more than $2 billion of capacity in Oracle’s Gen2 Cloud,” said Oracle’s CTO Larry Ellison.