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Oracle Corporation Japan (OCLCF) Q2 2024 Earnings Call Transcript Summary

Futu News ·  Dec 20, 2023 01:46  · Conference Call

The following is a summary of the Oracle Corporation Japan (OCLCF) Q2 2024 Earnings Call Transcript:

Financial Performance:

  • Oracle Japan's Q2 revenue reached JPY117.419 billion, a growth of 8.9% year-over-year, largely driven by strong growth in cloud revenues which totaled JPY23.852 billion - a near 38% increase.

  • The company witnessed high double-digit growth in all its cloud services including ERP cloud, NetSuite, and Infrastructure consumption revenues.

  • Net income stood at JPY26.665 billion, a rise of 10.4%, demonstrating record high total revenue and margins for Q2.

Business Progress:

  • Oracle notched a victory by being named as a leader in 2023 Gartner Magic Quadrant for cloud ERP for product-centric companies, establishing itself as one of Japan's hyperscalers.

  • The company has seen particularly strong growth in the financial, manufacturing, and public sectors, and is also working on new projects with Payroll, Ryobi Systems, and AIST.

  • Efficiencies in project implementation have resulted in increased margins in their services business.

More detailed: ORACLE CORP JAPAN IR

Tips: This article is generated by AI and the accuracy of the content can not be fully guaranteed. For more and comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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