Posted 3/11/2024, 9:17:40 PM

Oracle Cloud Revenue Soars 25% to $5.1B, Beating Estimates as Company Makes Progress Taking Cloud Market Share

Oracle's cloud revenue grew 25% to $5.1B, beating estimates and showing progress in capturing more cloud market share
Cloud infrastructure sales were $1.8B and application sales were $3.3B
Backlogged cloud sales hit $80B, significantly higher than the $59B expected
Oracle signed large new cloud infrastructure contracts in Q3, driving revenue growth
After acquiring Cerner, Oracle is focused on modernizing the health records software business

yahoo.com