Hi and welcome to episode 19 of The ERP Minute. I’m your host Ashley Glasgow.
Last Thursday Oracle announced fiscal 2022 second quarter financial results, sparking the attention of many sources. Total revenue for Oracle was up 6.4% to $10.4 billion dollars. Cloud services and license support revenue were up 6% to $7.6 billion dollars. Total cloud revenue was up 22% to $2.7 billion. Fusion ERP cloud revenue was up 35%, NetSuite ERP cloud revenue was up 29%.
Oracle CEO Safra Catz stated, “These strong results are being driven by the 22% growth of our infrastructure and applications for cloud businesses which are approaching $11 billion dollars in annualized revenue. We now have 8,500 Fusion ERP customers with revenue growing 35%, and 28,400 NetSuite ERP customers with revenue growing 29%.”
We expect to continue to see Oracle’s growth continue through 2022.
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