AUSTIN (dpa-AFX) – The software group Oracle has significantly increased its revenues in the most recent business quarter thanks to booming cloud services. In the three months to the end of February, sales rose 18 percent year-on-year to $12.4 billion (€11.7 billion), as announced by SAP’s rival on Thursday after the US stock market closed.
In the cloud business with storage space and applications on the Internet, there was an increase of 45 percent to 4.1 billion dollars. However, sharply increased operating expenses allowed net profit to drop by 18 percent to $1.9 billion. After the trading session, Oracle’s share price initially fell by more than three percent./hbr/DP/he
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