Estimated reading time: 1 minute, 14 seconds

NETSUITE, FUSION REMAIN HOT Featured

Oracle NetSuite had 21 percent year-over-year growth to $800 million for the second quarter ended February 29, 20 percent in constant currency. It is the latest in a string of quarters of plus 20-percent revenue increases for the ERP product line.

  Its sister product, Fusion ERP also hit $800 million in quarterly revenue, up 18 percent and the same in constant currency.  Interesting thing is that in the second quarter, both product lines had revenue of $800 million in each of the second and third quarters, which made my eyes spin. Fusion also had $800 million in revenue for the first quarter with NetSuite coming in at $700 million. These two quarters suggested annualized revenue of $3.2 billion for each. We will have to wait for the annual report. Oracle did not provide cumulative totals for fiscal 2023 and did not break out revenue totals for either product for the first quarter of FY 2023. Based on four consecutive quarters, NetSuite and Fusion had $3 billion in revenue each  Oracle used to report the number of customers for each, but has not for several quarters. However, in a LinkedIn post this week, SVP Sam Levy wrote,  "We work with more than 37,000 customers around the world." There was no mention of either NetSuite or Fusion during this week’s earnings webcast. There was a lot of talk about AI and about Oracle’s cloud business. In particular, CEO Safra Catz said the third quarter, “marks the first time total cloud revenue exceeds support revenue.”

Read 337 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.