Oracle Tops Forecasts
March 13, 2020
reported fiscal 2020 Q3 results. Total Revenues were $9.8 billion, up 2%
in USD and 3% in constant currency compared to Q3 last year. Cloud
Services and License Support revenues were $6.9 billion, up 4% in USD
and 5% in constant currency. Cloud License and On-Premise License
revenues were $1.2 billion.
GAAP Operating Income was up 4% to $3.5 billion, and GAAP Operating
Margin was 36%. Non-GAAP Operating Income was up 2% to $4.4 billion, and
non-GAAP Operating Margin was 44%. GAAP Net Income was $2.6 billion, and
non-GAAP Net Income was $3.2 billion. GAAP Earnings Per Share was up 4%
to $0.79, while non-GAAP Earnings Per Share was up 11% to $0.97.
Wall Street was only expecting
revenues of $9.75 billion with an EPS of 96 cents per share.
Short-term Deferred Revenues were
$7.8 billion. Operating Cash Flow was $13.9 billion during the trailing
"We had an extremely strong quarter with Total Revenues growing 3% in
constant currency,” said Oracle CEO, Safra Catz. “Subscription revenues,
made up of Cloud Services and License Support revenues, grew 5% in
constant currency. These consistently growing and recurring subscription
revenues now account for 71% of total company revenues, thus enabling a
sequential increase in our operating margin, and double-digit non-GAAP
Earnings Per Share growth in Q3.”
Oracle Autonomous Database, the world’s only fully autonomous data
management system, can automatically patch security vulnerabilities
while running; it keeps your data safe,” said Oracle Chairman and CTO,
Larry Ellison. “Oracle Autonomous Database is also both serverless and
elastic. It’s the only database that can instantaneously scale itself to
an optimal level of CPU and IO resources. You only pay for what you use.
Security and economy are two fundamental reasons why thousands of
customers are now using the revolutionary new Oracle Autonomous Database
in our Generation 2 Public Cloud.”
The Board of Directors increased the authorization for share repurchases
by $15.0 billion. The Board of Directors also 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
April 9, 2020, with a payment date of April 23, 2020.