Oracle's Q1 revenue up by 18% to $11.4 billion
Oracle Corporation announced on Monday that its revenue in the first quarter of the fiscal year 2023 observed an annual rise of 18% to reach $11.4 billion. The company's operating income, on the other hand, went down by 23% compared to the same trimester in 2022 to land at $2.6 billion, while its net income declined by 37% to $1.5 billion. Meanwhile, diluted earnings per share (EPS) worsened by 0.34% to $0.56 per share.
"This is the first quarter we owned Cerner and they just delivered the best revenue quarter in their history. We expect Cerner to do even better in the coming quarters as we develop an all-new suite of healthcare cloud services," Oracle Chief Executive Officer (CEO) Safra Catz commented.
Following the release of the report, Oracle's shares went up by 0.21% in after-hours trading.