Revenue during the quarter went up marginally by 0.47 percent to $9,035 million from $8,993 million in the previous year period. Gross margin for the quarter expanded 54 basis points over the previous year period to 89.61 percent. Total expenses were 66.39 percent of quarterly revenues, down from 67.14 percent for the same period last year. This has led to an improvement of 75 basis points in operating margin to 33.61 percent.

Operating income for the quarter was $3,037 million, compared with $2,955 million in the previous year period.

However, the adjusted operating income for the quarter stood at $3,807 million compared to $3,723 million in the prior year period. At the same time, adjusted operating margin improved 74 basis points in the quarter to 42.14 percent from 41.40 percent in the last year period.

"For four consecutive quarters our Cloud SaaS & PaaS revenue growth rate has increased," said Oracle chief executive officer, Safra Catz. "As we get bigger in the cloud, we grow faster in the cloud. Our non-GAAP constant currency SaaS and PaaS growth rate is now up to 89%. This growth rate acceleration has driven our quarterly cloud revenue over the $1 billion mark. When salesforce.com crossed the billion dollar milestone their SaaS and PaaS subscription growth rate had slowed down to 36%, even after you include all their acquisitions."

The company has spent $14,920 million cash to meet investing activities during the first six months as against cash outgo of $3,338 million in the last year period.

Cash flow from financing activities was $6,739 million for the first six months as against cash outgo of $7,066 million in the last year period.

Cash and cash equivalents stood at $18,592 million as on Nov. 30, 2016, up 6.78 percent or $1,181 million from $17,411 million on Nov. 30, 2015.

Working capital increases
Oracle Corp has recorded an increase in the working capital over the last year. It stood at $48,387 million as at Nov. 30, 2016, up 7.85 percent or $3,523 million from $44,864 million on Nov. 30, 2015. Current ratio was at 3.96 as on Nov. 30, 2016, down from 4.26 on Nov. 30, 2015.

Cash conversion cycle (CCC) has decreased to 2 days for the quarter from 21 days for the last year period. Days sales outstanding went down to 36 days for the quarter compared with 38 days for the same period last year.

Days inventory outstanding has decreased to 16 days for the quarter compared with 23 days for the previous year period. At the same time, days payable outstanding went up to 50 days for the quarter from 39 for the same period last year.