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    Total revenue for the quarter exceeded $9.8 billion for Oracle’s Q3 which ended February 29th. This represents an increase of 3% YoY from previous Q3 and exceeded analyst expectations by a solid $50m and, according to a MarketWatch Report, this was Oracle’s biggest growth in revenue for almost 2 years. The growth in Q3 is made up a 4% YoY increase in Cloud Services and Licence Support revenues (now accounting for 71% of total revenue and which in itself was $30m in excess of market expectations) tempered by a continued decline in On-Prem and Cloud Licence revenues – down 1.6% YoY.

    CEO Safra Catz described performance as, “a remarkable quarter with lots of products and customer momentum in both applications and infrastructure”. The markets seemed to agree with her assessment as Oracle stock closed at a settled figure of $39.80 on one of the worst days on the Dow Jones in many years, which saw the wider index drop by 10%.

    Oracle appear confident of closing out their financial year well in spite of a global economy impacted by the COVID-19 outbreak; CEO Safra Cruz stated they are expecting minimal short term impact on subscription sales as most of that revenue is already locked in for the period.

    The growing emphasis on subscription sales over license revenue will soften the disruption to their upcoming projections, and their transition in recent years towards a digital support and selling business model, with significant off-site implementation capability, will mean that Oracle themselves are hoping to continue operations through the coming months with minimal disruption.
    CEO Catz expects some degree of uncertainty in the unfolding coronavirus pandemic with forward projected Q4 figures, ending in May 2020, to be anywhere between a 2% decline to a a 2% gain YoY.

    Growth in the wider SaaS Applications market continues at pace. Recent analysis by Synergy Research shows that the value of the market exceeded £101bn in 2019 and has doubled in the past three years. Oracle share 5th place with SAP in the Cloud Apps top 5 which is lead by Microsoft, followed by Salesforce and Adobe in 3rd place. In addition to recent growth in SaaS HR solutions such as Workday, SAP SuccessFactors and Oracle HCM Cloud, collaboration was amongst the fastest growing segments of the wider SaaS market. Microsoft’s place at the head of the big 5 SaaS leaders has been helped by the various collaboration tools offered as standard within the Office 365 suite; technology which may well be receiving increasing levels of scrutiny over the coming months as many organisations look are forced to scale the number of their remote workers.

    Oracle’s Q3 statement can be found in full here: https://investor.oracle.com/financial-news/financial-news-details/2020/Oracle-Announces-Fiscal-2020-Third-Quarter-Financial-Results/default.aspx

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