For Q2 FY 2023 (ended November 2022), Total Revenues were $12.3 billion, up 18% y-o-y. Cloud Services and License Support revenues were $8.6 billion, up 14% y-o-y. Cloud License and On-Premise License grew 16% y-o-y. GAAP Operating Income was $3.1 billion, as compared to -$824 million in the year-ago period. GAAP Net Income was $1.74 billion -- up from -$1.25 billion.
Note: Oracle's FY'22 ended on May 31, 2022. Q2 FY'23 refers to the quarter that ended on November 30, 2022.
IT software and Services industries suffered from a fall in demand for software and web services at the start of the pandemic as consumers focused solely on essentials, not discretionary products. However, it recovered over the subsequent quarters, with companies having a portfolio of software and services aimed at remote collaboration benefitting the most.
Notably, the company posted total revenues of $42.4 billion in FY2022 - up 5% y-o-y.
Oracle earns money through the sale of enterprise software and associated hardware. The company had launched its Gen 2 cloud and Autonomous database in order to increase the 'as-a-service' component in its offerings.
Segment revenues are derived from the sale of subscriptions for Oracle Cloud Services and product upgrades.
Segment revenues are derived from the sale of software licenses to be used on-premise or in the cloud.
Segment revenues are derived from the sale of hardware products and related software.
Segment revenues are derived from the sale of consulting and technical support services.
