What impacted Oracle's net profit volatility since 2022?

Oracle's net profit volatility since 2022 can be attributed to several factors:

1. **Revenue Growth**: Oracle has experienced significant revenue growth, which has positively impacted its net profit. For example, in the second quarter of 2023, total revenues were $12.3 billion, up 18% year-over-year in USD and 25% in constant currency. This increase in revenue has contributed to the company's profitability.
2. **Cloud Services Growth**: The growth of Oracle's cloud services, including cloud infrastructure (IaaS) and cloud application (SaaS) revenues, has been a key driver of its net profit growth. In the second quarter of 2023, cloud services and license support revenues were up 14% in USD and 20% in constant currency, reaching $8.6 billion. The growth of cloud services has led to higher net income.
3. **Acquisitions**: Oracle's strategic acquisitions, such as the acquisition of Cerner for $28 billion in June 2022, have expanded its business segments and contributed to its net profit growth. The integration of acquired companies can initially impact net profit due to merger costs, but long-term growth can result from the combined operations.
4. **Hardware Business Evolution**: Oracle's hardware business has been evolving, with a focus on selling higher-margin machines rather than units with no gross margin. This strategic shift has affected the volatility of net profit, as the company prioritizes profitability over sales volume.
5. **Market Conditions**: The overall market conditions, including the competitive landscape and economic factors, have influenced Oracle's net profit. For instance, the company's ability to compete in the lower-end server business and the impact of the U.S. dollar strengthening on foreign currencies have affected its financial results.

In conclusion, Oracle's net profit volatility since 2022 is primarily driven by its revenue growth, particularly in cloud services, strategic acquisitions, and the evolution of its hardware business. These factors, along with market conditions, have contributed to the company's net income fluctuations.