Summary
Oracle Corporation's (ORCL) Q2 fiscal year 2024 report shows solid revenue growth driven by its Cloud and License segment, which continues to be the primary revenue driver. Total revenues increased by 5% year-over-year, with Cloud Services and License Support revenues seeing a significant 12% increase. Despite a slight decrease in Hardware and Services revenue, the overall performance indicates resilience, supported by strong cloud adoption. The company's operating income saw a notable 18% increase, reflecting improved operational efficiency and cost management. Oracle continues to invest in research and development, indicating a focus on future innovation and market positioning within the competitive cloud and enterprise software landscape.
Financial Highlights
54 data points| Revenue | $12.94B |
| R&D Expenses | $2.23B |
| Operating Expenses | $9.32B |
| Operating Income | $3.62B |
| Interest Expense | $888.00M |
| Net Income | $2.50B |
| EPS (Basic) | $0.91 |
| EPS (Diluted) | $0.89 |
| Shares Outstanding (Basic) | 2.75B |
| Shares Outstanding (Diluted) | 2.82B |
Key Highlights
- 1Total revenues increased by 5% to $12.94 billion for the three months ended November 30, 2023, compared to $12.28 billion in the prior year period.
- 2Cloud services and license support revenues grew by 12% to $9.64 billion for the three months ended November 30, 2023.
- 3Operating income increased by 18% to $3.62 billion for the three months ended November 30, 2023.
- 4Diluted earnings per share (EPS) rose to $0.89 from $0.63 in the prior year period.
- 5The company reported a substantial remaining performance obligation of $65.5 billion as of November 30, 2023, with approximately 48% expected to be recognized in the next twelve months.
- 6Free cash flow for the trailing four quarters ended November 30, 2023, was $10.10 billion, a 20% increase year-over-year.
- 7Oracle initiated a new restructuring plan (2024 Restructuring Plan) with estimated costs up to $609 million, expected to be incurred through fiscal year 2025.