Oracle reports 18% revenue growth after Cerner deal closes

Oracle reported gross that met expectations connected Monday, portion net came successful beneath analysts' estimates.

Revenue climbed 18% successful the 4th from a twelvemonth earlier, acknowledgment to a publication from precocious acquired bundle shaper Cerner.

Here's however the institution did:

• Earnings: $1.03 per share, adjusted, vs. $1.07 per stock arsenic expected by analysts, according to Refinitiv.
• Revenue: $11.45 billion, vs. $11.45 cardinal arsenic expected by analysts, according to Refinitiv.

Revenue maturation successful the 4th ended Aug. 31 accelerated from 5% successful the anterior quarter, according to a statement.

Oracle received a $1.4 cardinal publication from Cerner, aft the $28 cardinal acquisition closed during the quarter.

Net income declined to $1.55 cardinal from $2.46 cardinal successful the year-ago quarter.

Oracle's unreality services and licence enactment class generated $8.42 cardinal successful revenue, up 14% and supra the StreetAccount statement of $8.27 billion.

Oracle's applications and infrastructure unreality businesses present correspond implicit 30% of full revenue, CEO Safra Catz said successful a statement. Revenue from unreality infrastructure totaled $900 cardinal successful the quarter, up 52%.

In summation to completing the Cerner deal, Oracle announced the availability of its database bundle done Microsoft's Azure nationalist cloud, but moving connected Oracle's ain unreality infrastructure.

Excluding the after-hours move, Oracle shares are down astir 12% truthful acold successful 2022, portion the S&P 500 is down astir 14% implicit the aforesaid clip period.

Oracle executives volition sermon the results with analysts and contented guidance connected a league telephone starting astatine 5 p.m. ET.

This communicative is developing. Please cheque backmost for updates.

WATCH: Guggenheim's DiFucci reveals what separates bully and atrocious information bundle companies