It was Fusion which stood out with a 37-percent rise in revenue, up 38 percent in constant currency. Net income of $2.57 billion was down 6 percent for the most recently ended quarter from $2.75 billion a year earlier, off 5 percent in constant currency. Revenue for the quarter slightly less than $10 billion, an increase of 2 percent from $9.61 billion in last year’s corresponding period, a 3-percent change in constant currency. Chairman Larry Ellison, who engaged in his usual competitor bashing, said there were 7,000 Fusion customers and 21,000 NetSuite ERP customers at the end of the quarter. Checking prior coverage, Ellison said that at the end of the November quarter there were 7,000 Fusion and 20,000 NetSuite customers. ERP customers. Most be some rounding somewhere. There were 18,000 NetSuite customers of the Oracle at the end of the August quarter so there was a slowdown in the addition of new customers there. Ellison remained bullish on the financial application market. “We expect the cloud ERP market to be two to three times the on-premise business,” he said. CEO Safra Catz said the cloud business reflects new customers and switchers from on-premise, along with competitive wins. Subscription revenue, including on-premise and cloud, for the recent quarter was $6.9 billion, rising 4.5 percent from $6.67 billion a year. On-premise revenue of $1.2 billion was unchanged from last year. There did not appear to be a cloud revenue total broken out.Last modified on Friday, 13 March 2020
ORACLE ERP BIZ STRONG Featured
Oracle’s Fusion ERP and NetSuite business remained strong for the third quarter ended February 29. In its earnings webcast this week, Oracle said NetSuite revenue was up 26 percent year-over-year.