Oracle Reports 30% Topline Growth for August Quarter

Oracle reported 30% growth in revenue of $19.3 billion for the quarter ending Aug. 31, a slightly better growth rate than the company projected in June, even as it burned $5 billion to expand the data centers that are driving its accelerating topline growth.

The software and cloud firm said operating income rose 57% to $6.7 billion, although that doesn’t reflect rising interest costs caused by the extra debt the company has taken on. Interest costs soared by 55% to $1.4 billion.

Oracle projected growth of between 30% and 34% for its second fiscal quarter but maintained its full year grwoth at 34%. Oracle shares were trading up 7% in after hours trading.