AUSTIN (dpa-AFX) – The US software giant Oracle made gains in the second quarter. The cloud offerings increased revenues – especially the business with computing power from the network, as SAP’s competitor (SAP SE) announced on Monday evening in Austin (Texas). Sales rose in the three months to the end of November by almost nine percent to around 14.1 billion US dollars (13.3 billion euros).
Cloud sales increased by almost a quarter to $5.9 billion. Within the division, the business with computing power on the network (IaaS – Infrastructure as a Service) grew by a good half – driven by a “record high” demand in connection with artificial intelligence (AI), as CEO Safra Catz explained. He expects growth to accelerate and forecast cloud sales of more than $25 billion for the fiscal year.
Adjusted operating income rose ten percent to $6.1 billion in the quarter. The bottom line was a 22 percent increase in profits of $3.15 billion, and adjusted earnings per share increased by ten percent to $1.47, which was slightly less than analysts expected. Sales just barely reached estimates. In an initial reaction, investors were particularly disappointed with sales in the cloud business. The share, which has recently performed excellently, recently lost around five percent to $181 after trading.
The price of Oracle shares has climbed a little more than 80 percent so far this year and reached its highest level to date in regular trading on Monday at just over $198. Oracle currently has a market value of around $500 billion. For comparison: SAP comes in at the equivalent of just over $300 billion. Thanks to the increase in the price of Oracle shares, it is a major shareholder Larry Ellison with a fortune of around 200 billion dollars, one of the wealthiest people in the world./nas/zb
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