Oracle has to worry for a $ 10 billion cloud contract from the US government. The American software group was at the forefront in a lawsuit over the tender.
The road is now clear for competitors – Amazon and Microsoft to get their share. The Pentagon, the US Department of Defense, is looking for a party that can deliver super secure systems in the cloud. According to Oracle, the tender had not been conducted fairly and there would have been a conflict of interest. The judge who dealt with the case did not agree.
The American software group Oracle achieved slightly more revenue in the past quarter, helped by its cloud services. This is according to figures that the company presented on Wednesday at Wall Street.
Total revenue in the fourth quarter of the broken fiscal year ended at the end of May increased by 1 percent to $ 11.1 billion. Excluding currency effects, a plus of 4 percent was seen. Over the entire fiscal year, Oracle recorded revenue of $ 39.5 billion, a small increase compared to a year earlier.
Net profit for the past quarter amounted to more than $ 3.7 billion, compared to nearly $ 3.3 billion a year earlier. The annual profit for the entire year was $ 11.1 billion.
About the author: Wesley C Waldo
Wesley C Waldo, a promising writer who is preparing to publish his first novel in 2023. Travels a lot and collects the clues for a new book. He writes on social topics, sometimes describes an event or two.