New York, Jun. 13, (dpa/GNA) - Increasing revenues from cloud services have helped the US software company Oracle to boost profit and revenue in the fourth quarter.
In the three months to the end of May, revenues rose by 17% year-on-year to $13.8 billion, the SAP arch-rival announced on Monday after the US stock exchange closed. Cloud revenues grew 54% to $4.4 billion.
The growing hype around applications with artificial intelligence also benefited their bottom line.
Oracle earned $3.3 billion (€3.1 billion), 4% more than a year ago.
The quarterly figures exceeded market expectations. The share price rose by more than 4% at times after trading hours.
GNA