Oracle posted strong revenue growth in the most recent fiscal quarter thanks to its booming cloud services and an acquisition. In the three months to the end of August, sales rose 18 percent year-on-year to $11.45 billion, the company announced on Monday after the US stock market closed.
The strong growth was also due to the purchase of the software company Cerner, which specializes in healthcare, which contributed to sales for the first time. However, higher operating costs caused profits to collapse. The bottom line is that Oracle earned $1.55 billion – around 37 percent less than a year ago. Investors reacted cautiously, the stock hardly moved at first after hours.
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