Oracle Corporation (ORCL), a leading provider of an integrated suite of applications plus secure, autonomous infrastructure in the Oracle Cloud, beat on top and bottom lines in the fiscal 2023 fourth quarter as its cloud revenue jumped. The company reported quarterly revenue of $13.84 billion, compared to analysts’ estimate of $13.73 billion.
The company’s primary source of revenue, cloud services and license support, climbed 23% year-over-year to $9.37 billion. However, its revenue from cloud licenses and on-premises declined 15% from the year-ago value to $2.15 billion.
