Moreover, revenue the Fusion ERP and HCM suite was also up 32 by percent. The company did not provide actual revenue figures for the two product lines. CEO Mark Hurd praised the NetSuite operations effusively :They are doing a fabulous job of growing not just international y but domestically,” he said. Despite the high rate of growth, “we can do better,” Hurd said. Oracle is adding more sales people internationally and also growing its SuiteSuccess microvertical program. “We have increased our R&D more. yet again,” he said. Overall, annualized ERP and HCM revenue reached $2.9 billion. Despite that growth, overall Oracle revenue was up 4 percent in constant currency. Hurd said that was because the high-growth rate areas are being countered by some declining products areas. Fiscal 2019 revenue was $39.5 billion, compared to $35.38 billion for fiscal 2018. Net income for the most recently ended year more than doubled to $11.08 billion from $3.59 billionLast modified on Thursday, 20 June 2019
NETSUITE REVS UP 32 PERCENT Featured
Oracle said its NetSuite revenue rose by 32 percent for the year ended March 31. That represents an acceleration from increases in the 25-percent range in the past two quarters.