Oracle Tops Forecasts - Grows
September 10, 2020
Oracle reported fiscal 2021 Q1 results. Total quarterly revenues were up 2% year-over-year in USD and in constant currency to $9.4 billion compared to Q1 last year. Cloud services and license support revenues were up 2% in USD and in constant currency to $6.9 billion. Cloud license and on-premise license revenues were up 9% in USD and 8% in constant currency to $886 million.
Q1 GAAP operating income was up 12% to $3.2 billion and GAAP operating margin was 34%. Non-GAAP operating income was up 9% to $4.2 billion and non-GAAP operating margin was 45%. GAAP net income was up 5% to $2.3 billion, and non-GAAP net income was up 4% to $2.9 billion. GAAP earnings per share was up 16% to $0.72, while non-GAAP earnings per share was up 15% to $0.93. Short-term deferred revenues were $9.9 billion. Operating cash flow was $13.1 billion during the trailing twelve months.
Wall Street was only expecting earnings of only 86 cents per share against the 93 cents per share Oracle delivered. Investors expected revenue $9.19 billion, but bested that number by reporting $9.37 billion.
was fantastic with total revenue beating guidance by more than $150
million, and non-GAAP earnings per share beating guidance by $0.07,”
said Oracle CEO, Safra Catz. “Our cloud applications businesses
continued their rapid revenue growth with Fusion ERP up 33% and NetSuite
ERP up 23%. We now have 7,300 Fusion ERP customers and 23,000 NetSuite
ERP customers in the Oracle Cloud. Our infrastructure businesses are
also growing rapidly as revenue from Zoom more than doubled from Q4 last
year to Q1 in this year. I have a high level of confidence that our
revenue will accelerate as we move on past COVID-19.”
The board of directors declared a quarterly cash dividend of $0.24 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on October 8, 2020, with a payment date of October 22, 2020.