American multinational software giant Oracle has reported a positive revenue growth in the quarter ended in Aug 2022. Its revenue grew by 18% in the last quarter. Experts believe that the recent $28 billion acquisition of Cerner, a health data software maker, led to this significant improvement in revenue. Oracle gained $1.4 billion from Cerner after the $28 billion acquisition deal closed recently.

Oracle’s cloud services and license-support category performed really well and generated a whopping $8.42 billion in revenue. It is 14% up and above the StreetAccount consensus of $8.27 billion. The software giant’s applications and infrastructure cloud businesses have made a stronghold in the industry. It now represents over 30% of its total revenue. Here also Oracle did a phenomenal job. Its quarterly revenue from cloud infrastructure grew drastically 52% to $900 million.

“I personally have been speaking to some of Amazon’s most famous brands that are running at AWS. And the AWS bill is getting very large. And they can save an enormous amount of money by moving to OCI. And I expect next quarter we will be announcing some brands, some companies moving off of Amazon to OCI that will shock you. I’ll stop there,” asserts one of the top company officials.