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ORACLE ERP GROWTH SLOWS Featured

 Revenue growth for Oracle’s Fusion Cloud ERP and NetSuite both slowed in the fourth quarter ended May 31. It marked the first time in several quarters that revenue increases dipped below 20-percent year-over year.

Both product lines registered $800 million in revenue for the most recently ended period, representing a 19-percent increase for NetSuite and a 14-percent rise for Fusion. The percentages were the same in constant currency for both lines. During this week’s earnings webcast, the company did not mention any factors in the performance of the ERP products. It also marked another quarter in which each product registered $800 million in revenue. That happened for both product lines in the second and third quarter. Fusion revenue for first quarter was also $800 million for a total of $3.2 billion for fiscal 2024. NetSuite’s first-quarter revenue was $700 million, so reaching $3.1 billion for the recently ended year. Most of the webcast discussion centered on Oracle’s cloud regions and data centers and AI.  Oracle revenue for the quarter was $14.29 billion, an increase of 3 percent from $13.84 billion in last year’s corresponding period. Revenue growth was depressed by a 14-percent year-over-year decline in cloud and on-premise license revenue. Net income for the period $3.14 billion, down 5 percent from $3.32 billion. Revenue for fiscal 2024 was slightly less than $52 billion, a six-percent rise from slightly less than $50 billion for fiscal 2023.

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