Oracle revenues hit $9.4bn as remote working drives cloud adoption

Oracle saw revenues hit $9.4 billion in the first quarter, as the company reaped the benefits of the shift to home working.

The cloud and software provider said total revenues were up two per cent compared to the first quarter of last year, while cloud services and license support revenues were up two per cent to $6.9 billion.

Cloud license and on-premise license revenues were up nine per cent to $886 million. Total revenues for the first quarter beat also guidance by more than $150 million.

The company’s cloud applications businesses continued rapid revenue growth for the period with Fusion ERP up 33 per cent and NetSuite ERP up 23 per cent.

Safra Catz, chief executive of Oracle, 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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