'Oracle delivered its highest quarterly organic revenue growth since we began our transition to the cloud' - Oracle posts fiscal Q3 earnings

The vendor hails steady financial figures owing to accelerated cloud activity

Kelsey Rees
clock • 2 min read
'Oracle delivered its highest quarterly organic revenue growth since we began our transition to the cloud' - Oracle posts fiscal Q3 earnings

Oracle is an example of another company reaping the rewards of a transition to cloud as it publishes its fiscal 2022 third quarter financial results. Total revenues grew four per cent to $10.5bn (€9.5bn) during Q3.  While Q3 GAAP operating income came in at $3.8bn (€3.4bn), a dip of one per cent.  Total cloud revenues (IaaS plus SaaS) for the group climbed 24 per cent to $2.8bn (€2.5bn). Oracle added its cloud services and license support revenues were up five per cent to reach $7...

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