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Oracle Sees Turnover Decline Due to Coronavirus

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Oracle has announced its fiscal fourth-quarter 2020 results. Those are less than previously expected, but the corona crisis has a lot to do with that, according to the company.

 

Total revenue for the fourth quarter of 2019 was $ 10.4 billion, down 6% year-on-year. This was partly caused by the coronavirus. Total revenues are $ 39.1 billion.

That’s another percent less than a year earlier.

Overall, Oracle is still performing well, primarily due to the company’s strong performance in cloud infrastructure and cloud services. Cloud services and license support revenues were $ 6.8 billion, up 1% year-on-year.

According to CEO Safra Catz, the Fusion Cloud ERP Suite and the Fusion Cloud HCM Suite, in particular, grew by 35 percent and 29 percent, respectively, without currency fluctuations.

Oracle now has more than 71,000 customers for Fusion ERP, and nearly 22,000 customers for its Netsuite, putting the company at the top of the cloud ERP systems market.

Oracle also managed to get some key customers for cloud infrastructure in the past quarter, the most famous of which is probably Zoom.

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