(Oracle) Oracle stock rose more than 12% on Tuesday as the company reported total revenue of $11.8 billion in the fourth quarter of 2022. The revenue was up 5% from the prior year or 10% on a constant currency basis.
The improved revenue came at the back of cloud strengths. The company reported cloud revenue of $2.9 billion, an increase of 19% from the prior year or 22% on a constant currency basis.
For FY22, Oracle’s revenue was $42.4 billion, an increase of 5% or 7% on a constant currency. Cloud services and license support revenues rose 5% or 6% on constant currency to $30.2 billion in the same period.
The company’s operating income came at $4.5 billion, a decline of 1% or an improvement of 6% on a constant currency basis. FY22 operating income was $10.9 billion.
Oracle still reported a net income of $3.189 billion in the fourth quarter, a decline from $4.033 billion in the prior year. FY22 net income was $6.717 billion, down from $13.75 billion in FY21.
ORCL: NYSE is up +12/44% in premarket.
