Oracle reported earnings results for the third quarter of fiscal year 2019 on March 13, with a decrease of 1% of total revenues.
The company generated revenue of $ 9.6 billion in the quarter, down 1% from $ 9.68 billion a year earlier, The Wall Street Journal reports. The report comes after cloud competitors like Microsoft and Amazon have increased their recent earnings.
For the second quarter of Microsoft 2019, the company reported a 12% increase in revenue, attributing the Microsoft Azure cloud segment for growth. The technology giant does not disclose exact figures on individual product revenues, but has recorded a 76% growth in Azure for the second quarter. In addition, Amazon reported a 31% increase in net sales for fiscal year 2018, with its Amazon Web Services cloud platform generating a 47% increase in sales compared to the previous year
. the largest segment of the company, increased by 1% for the third quarter.
"As a percentage of our total software business, the cloud is now more than double than just three years ago and offers us the chance to accelerate the overall growth of software revenue while this mix change continues," the co-CEO of Oracle Safra Catz said The Wall Street Journal .
To view Oracle's financial report, click here.
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