Cloud services and license support revenues increased 5% to $28.7 billion, while cloud license and on-premise license revenues were up 5% to $5.4 billion.
Referring to the "absolutely outstanding" performance for the last quarter, CEO Safra Catz announced that the firm will now double its capital expenditure in cloud in the next financial year, to reach $4 billion. Demand will be driven by hybrid working models.
"We believe that now is the right time to increase our investment to capture market share," Catz said on a briefing call. "We are confident that the increased return in the cloud business more than justifies this increased investment, and our margins will expand over time."
Elsewhere in the financials, in Q4, total revenues increase 8% year-over-year to $11.2 billion, while cloud services and license support revenues also increased 8% to $7.4 billion.
Catz said: "Our Q4 performance was absolutely outstanding with total revenue beating guidance by nearly $200 million, and non-GAAP earnings per share beating guidance by $0.24.
"Our multi-billion dollar Fusion and NetSuite cloud applications businesses saw dramatic increases in their already rapid revenue growth rates," she continued.
Fusion ERP was up 30% in Q3 and up 46% in Q4; Fusion HCM was up 23% in Q3 and up 35% in Q4; while NetSuite was up 24% in Q3 and up 26% in Q4.
Catz added: "Revenue from our Gen2 Cloud Infrastructure business including Autonomous Database grew over 100% in Q4. The accelerating growth rates of both our applications and infrastructure cloud businesses this year drove earnings per share growth up to 21% in FY21. That is the fourth consecutive year of double-digit earnings per share growth at Oracle Corporation."
