Oracle Corp (ORCL) SEC Filing 10-Q Quarterly report for the period ending Sunday, February 28, 2021

Exhibit 99.1

For Immediate Release

Oracle Announces Fiscal 2021 Third Quarter Financial Results

AUSTIN, Texas, March 10, 2021 -- Oracle Corporation (NYSE: ORCL) today announced fiscal 2021 Q3 results. Total quarterly revenues were up 3% year-over-year to $10.1 billion. Cloud services and license support revenues were up 5% to $7.3 billion. Cloud license and on-premise license revenues were up 4% to $1.3 billion.

Q3 GAAP operating income was up 10% to $3.9 billion and GAAP operating margin was 38%. Non-GAAP operating income was up 10% to $4.8 billion and non-GAAP operating margin was 47%. GAAP net income was up 95% to $5.0 billion, and GAAP earnings per share was up 113% to $1.68. The GAAP income statement was impacted by a one-time net tax benefit totaling $2.3 billion related to the transfer of certain assets between subsidiaries. Non-GAAP net income was up 10% to $3.5 billion, and non-GAAP earnings per share was up 20% to $1.16.

Short-term deferred revenues were $8.1 billion. Operating cash flow was $14.7 billion during the trailing twelve months.

“We continued to extend our huge lead in the cloud ERP market as Fusion ERP grew 30% and NetSuite ERP grew 24% in Q3,” said Oracle CEO, Safra Catz. “Oracle’s rapidly growing highly-profitable, multi-billion dollar cloud ERP businesses helped drive subscription revenue up 5% and operating income up 10% in the quarter. Subscription revenue now accounts for 72% of Oracle’s total revenues, and this highly-predictable recurring revenue-stream along with expense discipline are enabling double-digit increases in non-GAAP earnings per share.”

“Once again in Q3, Oracle’s Gen2 Cloud Infrastructure business added customers, and grew revenue at a rate in excess of 100%,” said Oracle Chairman and CTO, Larry Ellison. “We are opening new regions as fast as we can to support our rapidly growing multi-billion dollar infrastructure business. On the applications front, analysts continue to rank Oracle the clear number one in cloud ERP, and this quarter Oracle signed contracts totaling hundreds of millions of dollars to migrate several more large companies from SAP ERP to Oracle Fusion ERP.”

The Board of Directors increased the authorization for share repurchases by $20 billion. Oracle also announced that its Board of Directors declared a quarterly cash dividend of $0.32 per share of outstanding common stock, reflecting a 33% increase over the current quarterly dividend of $0.24. Larry Ellison, Oracle’s Chairman of the Board of Directors, Chief Technology Officer and largest stockholder, did not participate in the deliberation, or the vote on this matter. This increased dividend will be paid to stockholders of record as of the close of business on April 8, 2021, with a payment date of April 22, 2021.

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