Revenue zooms back up for Oracle

Following a disappointing dip in revenue in its previous quarter, Oracle has announced positive Q1 results. The company’s SaaS numbers continue to perform well, with Fusion ERP up 33 percent and NetSuite ERP up 23percent.

Oracle’s fiscal 2021 Q1 results showed totalrevenue increased two percent to $9.4bn, net income increased five percent to $2.3bn, and operating income increased 12 percent to $3.2bn.

Safra Catz, Oracle CEO, said: “We now have 7,300 Fusion ERP customers and 23,000 NetSuite ERP customers in the Oracle Cloud. Our infrastructure businesses are also growing rapidly as revenue from Zoom more than doubled from Q4 last year to Q1 in this year. I have a high level of confidence that our revenue will accelerate as we move on past COVID-19.”

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