By Maria Armental
Oracle Corp. reported an 8% revenue increase in the latest period, ending the year with a record $40.48 billion in revenue.
The business software giant also reported a record $13.75 billion profit for the year ended May 31 and pointed to accelerating growth rates of both its applications and infrastructure cloud businesses.
Overall, fourth-quarter profit rose to $4.03 billion from $3.12 billion a year earlier. On a per-share basis, profit was $1.37, or $1.54 as adjusted.
Revenue rose to $11.23 billion from $10.44 billion a year earlier.
Analysts surveyed by FactSet expected a profit of $1.05 a share, or $1.31 a share as adjusted, and $11.02 billion in revenue.
Operating cash flow, the company said, was up 21% to a record $15.9 billion during the trailing twelve months.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
06-15-21 1630ET