Oracle Reported its Quarterly Earnings

September 14, 2021

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Oracle Reported its Quarterly Earnings

Oracle Corporation (ORCL) yesterday announced its financial results for fiscal 1Q2022: GAAP earnings per share rose 19% to $0.86 and non-GAAP earnings per share rose 11% to $1.03. Fusion ERP cloud revenue grew 32%, NetSuite ERP cloud revenue grew 28%. Cloud IaaS and SaaS revenue was $2.5 billion or 25% of quarterly revenue. Revenue from cloud services and license support increased 6% to $7.4 billion. Revenue from cloud and on-premises licenses decreased by 8% to 813 million. Total quarterly revenues were up 4% YoY to $ 9.7 billion.

Q1 GAAP operating income grew 7% to $3.4 billion and GAAP operating margin was 35%. Non-GAAP operating income rose 4% to $4.3 billion and non-GAAP operating margin of 45%. GAAP net income rose 9% to $2.5 billion. Non-GAAP net income rose 2% to $ 2.9 billion. Operating cash flow grew by 17% to $15.3 billion over the past 12 months.

Also BOD announced a quarterly cash dividend of $0.32 per share. Bottom Line: 1Q results were excellent as foreign earnings exceeded forecast by $100 million, with all revenue segments exceeding forecast and non-GAAP earnings per share exceeding expectations by $0.08. 2 new Oracle cloud businesses, IaaS and SaaS, currently account for over 25% of the company's total revenues with $10 billion in annual revenue.