Oracle revenues jumps 4% to $10.5 bn powered by Cloud

Oracle Corporation announced fiscal 2022 Q3 results, saying Oracle’s revenues rose 4 percent to $10.5 billion.
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Cloud services and license support revenues rose 5 percent to $7.6 billion. Cloud license and on-premise license revenues grew 1 percent to $1.3 billion.

Q3 operating income was $3.8 billion, down 1 percent, with operating margin of 36 percent and net income of $2.3 billion.

Oracle said Q3 earnings per share was lowered by $0.05 primarily because of a decline in the share price of revolutionary gene sequencing company Oxford Nanopore, and an operating loss at Ampere, the maker of the world’s fastest ARM Server Chips.

“Q3 Cloud Infrastructure revenue was up 47 percent. Cloud Applications growth was led by Fusion ERP, which was up 35 percent and NetSuite ERP which was up 29 percent. Cloud revenue which includes Cloud Infrastructure and Cloud Applications is over $11 billion a year,” Oracle CEO Safra Catz said in a news statement.

In Q3, Oracle completed development of the multi-cloud version of our MySQL HeatWave open-source database.

The MySQL HeatWave database is already running in the Oracle Gen2 Cloud. In a few weeks, MySQL HeatWave will also be available in the Amazon Cloud and the Microsoft Azure Cloud. MySQL HeatWave was designed to compete with Amazon’s version of MySQL called Aurora, Snowflake and other popular cloud databases, said Oracle Chairman and CTO Larry Ellison said.

Oracle have shown AWS, Snowflake and other database providers how to design and architect a True MySQL Cloud Database. Customers can expect MySQL HeatWave to perform about 7 times faster than Amazon Redshift or Snowflake at 2-5 times lower cost.

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