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Bloomberg
Oracle Corp’s quarterly sales jumped 18%, buoyed by the software maker’s transition to cloud computing and the acquisition of health records provider Cerner.
Sales were $11.4 billion in the fiscal first quarter, meeting analysts’ average estimate, according to data compiled by Bloomberg. Profit, excluding some items, was $1.03 a share. Oracle said currency fluctuations reduced the earnings by 8 cents a share. Analysts projected $1.06 a share.
Cloud revenue — the highly watched segment that Oracle has been trying to expand — rose 45% to $3.6 billion in the period ended on August 31, the Austin, Texas-based company said. Growth was 19% last quarter, before the Cerner deal closed.
Oracle completed its purchase of Cerner in June. The digital medical records provider generated $1.4 billion in sales in the period.