Oracle lost more than 1 billion rubles after leaving the Russian market
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The Russian legal entity of the American company Oracle, which left the market, reported a loss of 1.1 billion rubles. for 2022. This is reported by the CNews publication, referring to the data of the Federal Tax Service of Russia according to RAS.
Revenue of JSC “Oracle Computer Equipment” for 2022 decreased by 95% to 349.8 million rubles. In 2021, revenue amounted to 7.81 billion. Net loss in 2022 amounted to 1.09 billion rubles, while a year earlier the company earned 236 million rubles.
Oracle has another legal entity in Russia – Oracle Development SPB LLC. Its revenue fell to 36.5 million rubles, which is 82% less than a year earlier. The net loss is 223.9 million rubles. In total, the company suffered losses in the amount of 1.32 billion rubles for the year.
Oracle develops and supplies server hardware and creates database management systems (DBMS). In March 2022, the company decided to leave the Russian market, and in July it fired all employees of the Russian representative office.
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