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On March 13, Oracle released its results for the third quarter of fiscal 2019, recording a 1% decline in total revenue.
The company generated $ 9.6 billion in sales for the quarter, down 1% from $ 9.68 billion a year ago. The Wall Street Journal reports. The report comes after the recent profit increase from Microsoft and Amazon, such as Microsoft and Amazon.
For the second quarter of 2019, Microsoft recorded a 12% increase in revenue, attributing its Microsoft Azure Cloud segment to growth. The tech giant does not disclose the exact figures of the individual product sales numbers but has announced a 76% growth of Azure for the second quarter. In addition, Amazon recorded a 31% increase in net sales for fiscal year 2018, with the Amazon Web Services cloud platform generating a 47% increase in net sales from the prior year.
Oracle's cloud services and license support revenue, the largest segment of the company, increased 1% for the third quarter.
"As a percentage of our overall software business, the cloud represents more than double what it was three years ago and allows us to accelerate the overall growth in revenue. business software, as this mix change continues, "said Safra Catz, co-CEO of Oracle The Wall Street Journal.
To see the financial report of Oracle, click here.
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