Driven by strong growth in cloud services, Oracle reported fiscal 2023 Q4 revenue of $13.8 billion, up 17% in USD and up 18% in constant currency. GAAP net income was $3.3 billion, and non-GAAP net income was $4.7 billion.
Some highlights
- Cloud services and license support revenues were up 23% in USD and up 25% in constant currency to $9.4 billion.
- Cloud license and on-premise license revenues were down 15% in USD and down 14% in constant currency to $2.2 billion.
- For the fourth quarter of fiscal 2023, Cerner contributed $1.5 billion to total revenues.
“Oracle’s revenue reached an all-time high of $50 billion in FY23,” said Oracle CEO, Safra Catz. “Annual revenue growth was led by our cloud applications and infrastructure businesses which grew at a combined rate of 50% in constant currency. Our infrastructure growth rate has been accelerating—with 63% growth for the full year, and 77% growth in the fourth quarter. Our cloud applications growth rate also accelerated in FY23. So, both of our two strategic cloud businesses are getting bigger—and growing faster. That bodes well for another strong year in FY24.”
“Oracle’s Gen2 Cloud has quickly become the number 1 choice for running Generative AI workloads,” said Oracle Chairman and CTO, Larry Ellison. “Why? Because Oracle has the highest performance, lowest cost GPU cluster technology in the world. NVIDIA themselves are using our clusters, including one with more than 4,000 GPUs, for their AI infrastructure. Our GPU clusters are built using the highest-bandwidth and lowest-latency RDMA network—and scale up to 32,000 GPUs. As a result, cutting edge companies doing LLM development such as Mosaic ML, Adept AI, Cohere plus 30 other AI development companies have recently signed contracts to purchase more than $2 billion of capacity in Oracle’s Gen2 Cloud.”
