Oracle hit by currency fluctuations

Athens honours the Oracle of Delphi in the shape of a treasury thereThe continuing strength of the US dollar has hit database company Oracle in the financials.

The company said for its Q4 results, its revenues fell by five percent to $10.7 billion.

Its revenues for the whole of its financial year 2015 amounted to $38.2 billion.

It said that if it wasn’t for the strength of the US dollar its revenues would have been up by three percent.

Nevertheless, it software and cloud revenues fell by six percent in the quarter, turnng in $8.4 billion. Software as a service (SaaS) and plaform as a service (PaaS) revenues grew 29 percent year on year, up by 29 percent.

Cloud infrastructure as a service revenues amounted to $160 million.

Oracle introduced a new term to TechEye’s lexicon – constant currency. That means that if the whole world+dog used the US dollar, its results would have been far different.

Unfortunately for Oracle, the world+dog doesn’t regard the dollar as the constant currency. Hence the results.