Oracle revenue up 18% last quarter

Oracle's revenue last quarter was $11.5 billion, up 18% from last year.

It is noted that the net profit of the companydecreased 37% year-over-year to $1.5 billion. Operating profit also fell 23% to $2.6 billion. Oracle says cloud revenue continued to grow to $8.4 billion last quarter, up 14% from last year's figures. Oracle generated $763 million in hardware deliveries for the quarter, with another $1.36 billion in services. For the next quarter, Oracle expects revenue growth of 15-17%, including due to the growth of the cloud applications business and the expansion of cloud infrastructure. The company's report caused a positive market reaction and led to an increase in the value of the company's shares.