On June 12, 2023, Oracle Corporation (NYSE: ORCL) announced its financial results for the fourth quarter and the full fiscal year of 2023. The tech giant reported total revenue of $50 billion for FY23, marking an 18% increase in USD and a 22% rise in constant currency.
The fourth quarter of FY23 saw total revenue of $13.8 billion, up 17% in USD and 18% in constant currency. Cloud revenue, including Infrastructure as a Service (IaaS) and Software as a Service (SaaS), reached $4.4 billion, a significant increase of 54% in USD and 55% in constant currency.
Oracle’s cloud infrastructure (IaaS) revenue alone stood at $1.4 billion, marking a 76% increase in USD and a 77% rise in constant currency. Meanwhile, cloud application (SaaS) revenue was reported at $3.0 billion, up 45% in USD and 47% in constant currency.
The company’s Fusion Cloud ERP (SaaS) revenue was $0.7 billion, up 26% in USD and 28% in constant currency, while NetSuite Cloud ERP (SaaS) revenue also stood at $0.7 billion, marking a 22% increase in USD and a 24% rise in constant currency.
Oracle CEO, Safra Catz, commented on the results, stating, “Oracle’s revenue reached an all-time high of $50 billion in FY23.” She highlighted that the company’s cloud applications and infrastructure businesses led the annual revenue growth, which grew at a combined rate of 50% in constant currency.
Oracle Chairman and CTO Larry Ellison added that Oracle’s Gen2 Cloud has quickly become the number one choice for running Generative AI workloads due to its high performance and low cost. He noted that NVIDIA and several cutting-edge AI development companies have recently signed contracts to purchase more than $2 billion of capacity in Oracle’s Gen2 Cloud.
The press release also mentioned that Oracle’s board of directors declared a quarterly cash dividend of $0.40 per share of outstanding common stock, to be paid on July 26, 2023, to stockholders of record as of the close of business on July 12, 2023.
Although Oracle stock closed on Monday at $116.43, in the after-hours market, they last traded (9:35 p.m. UTC on 12 June 2023) at $120.59; the shares are up over 39% in the year-to-date period.