Software giant Oracle Corporation (NYSE: ORCL) said its third-quarter revenues rose 18%. Consequently, adjusted earnings increased sharply.
At $12.4 billion, revenues were up 18% year-over-year in the third quarter of fiscal 2023. Cloud services and license support revenues were up 17%
Adjusted earnings increased to $1.22 per share in the most recent quarter from $1.13 per share a year earlier. Net income, including one-off items, was $1.90 billion or $0.68 per share, compared to $2.32 billion or $0.84 per share last year.
Check this space to read management/analysts’ comments on Oracle’s Q3 results
“We have signed a diverse set of new and expanding domestic and international customers including: the US Department of Defense, the US Department of Veterans Affairs, Hospital Groups in a dozen US States, multiple hospitals in the United Kingdom, multiple Provinces of Canada,” said Oracle’s CTO Larry Ellison.
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Oracle’s Q3 revenues for fiscal 2023 increased 18% to $12.4 billion, owing to a 17% increase in cloud services and license support revenues. Adjusted earnings, therefore, rose from $1.13 to $1.22 per share. The company’s net income, including single off items, was $1.90 billion or $0.68 per share, compared to $2.32 billion or $0.84 per share in the same quarter of the previous year. Oracle signed diverse, new and expanding domestic and international customers, including the US Department of Defense, the US Department of Veterans Affairs, and hospitals across the US, UK, and Canada.
Wayne