Forbes June 18, 2023
Last week, Oracle Corporation reported its 2023 Q4 and full-year results, indicating blockbuster revenue growth and profits. The company reported that for fiscal year 2023, total revenues were up 18% to nearly $50.0 billion. Specifically, Cloud services and license support revenues were up 17% to $35.3 billion.
Indeed, this is an impressive performance by the Austin based technology titan. Safra Catz, CEO of Oracle, explained: “Annual revenue growth was led by our cloud applications and infrastructure businesses which grew at a combined rate of 50% in constant currency.”
Founder, CTO, and Chairman of the company, Larry Ellison, also stated that companies innovating in the generative AI space, such as NVIDIA, are heavily investing and using Oracle’s Gen2 Cloud, a key...
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