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Oracle Corp (ORCL) SEC Filing 10-Q Quarterly Report for the period ending Monday, February 28, 2022

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ORCL Quarterly Reports

Oracle Corp

CIK: 1341439 Ticker: ORCL

 

Exhibit 99.1

 

For Immediate Release

 

 

 

 

 

 

Contact:

  

Ken Bond

  

Deborah Hellinger

 

  

Oracle Investor Relations

  

Oracle Corporate Communications

 

  

1.650.607.0349

  

1.212.508.7935

 

  

ken.bond@oracle.com

  

deborah.hellinger@oracle.com

 

Oracle Announces Fiscal 2022 Third Quarter Financial Results

 

Total Revenue $10.5 billion, up 4% and up 7% in constant currency

Total Cloud Revenue (IaaS plus SaaS) of $2.8 billion, up 24% and up 26% in constant currency

Fusion ERP Cloud Revenue up 33% and up 35% in constant currency

NetSuite ERP Cloud Revenue up 27% and up 29% in constant currency

AUSTIN, Texas, March 10, 2022 -- Oracle Corporation (NYSE: ORCL) today announced fiscal 2022 Q3 results. Total quarterly revenues were up 4% year-over-year in USD and up 7% in constant currency to $10.5 billion. Cloud services and license support revenues were up 5% in USD and up 8% in constant currency to $7.6 billion. Cloud license and on-premise license revenues were up 1% in USD and up 4% in constant currency to $1.3 billion.

Q3 GAAP operating income was $3.8 billion, down 1% in USD and up 3% in constant currency. Non-GAAP operating income was $4.8 billion, up 1% in USD and up 4% in constant currency. GAAP operating margin was 36%, and non-GAAP operating margin was 46%. GAAP net income was $2.3 billion, and non-GAAP net income was $3.1 billion.

Q3 GAAP earnings per share was $0.84 while non-GAAP earnings per share was $1.13, down 3% in USD and up 1% in constant currency. Q3 earnings per share was lowered by $0.05 primarily because of a decline in the share price of revolutionary gene sequencing company Oxford Nanopore, and an operating loss at Ampere, the maker of the world’s fastest ARM Server Chips. We remain confident that our investments in these two cutting-edge technology companies will deliver very strong returns for Oracle.

Short-term deferred revenues were $7.9 billion. Operating cash flow was $10.4 billion during the trailing twelve months.

“In Q3, Oracle delivered over 7% constant currency revenue growth—our highest quarterly organic revenue growth rate since we began our transition to the cloud,” said Oracle CEO, Safra Catz. “This strong top line growth was coupled with a solid non-GAAP constant currency operating profit growth of 4%, but the big story is that our overall revenue growth is being driven by both our rapidly growing Cloud Infrastructure and Cloud Applications businesses. Q3 Cloud Infrastructure revenue was up 47% in constant currency. Q3 Cloud Applications growth was led by Fusion ERP, which was up 35% in constant currency and NetSuite ERP which was up 29% in constant currency. Total Cloud revenue which includes Cloud Infrastructure and Cloud Applications is now over $11 billion a year.”

“In Q3, Oracle completed development of the multi-cloud version of our MySQL HeatWave open-source database,” said Oracle Chairman and CTO, Larry Ellison. “The MySQL HeatWave database is already running in the Oracle Gen2 Cloud. In a few weeks, MySQL HeatWave will also be available in the Amazon Cloud and the Microsoft Azure Cloud. MySQL HeatWave was designed to compete with Amazon’s version of MySQL called Aurora, Snowflake and other popular cloud databases. What customer and database analysts are saying about Oracle’s new MySQL HeatWave database is simply astonishing. Here are a couple of examples of what the database analysts are saying.”

“Oracle have shown AWS, Snowflake and other database providers how to design and architect a True MySQL Cloud Database. Customers can expect MySQL HeatWave to perform about 7 times faster than Amazon Redshift or Snowflake at 2-5 times lower cost. The benefits over Amazon Aurora are even greater.”

The following is an approved quote from the database analysts at Wikibon:

“We believe that the technology underlying MySQL HeatWave is an inflection point in database design and architecture. The MySQL HeatWave technology is by far the best in the market now, and we believe that the MySQL HeatWave competitive advantage is sustainable for at least three years. We also believe customers will demand that AWS provide similar converged functionality as HeatWave.”

The board of directors declared a quarterly cash dividend of $0.32 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on April 8, 2022, with a payment date of April 21, 2022.

 

A sample list of customers which purchased Oracle Cloud services during the quarter will be available at www.oracle.com/customers/earnings/.

 

A list of recent technical innovations and announcements is available at www.oracle.com/news/.

 

To learn what industry analysts have been saying about Oracle’s products and services see www.oracle.com/corporate/analyst-reports.html.

Earnings Conference Call and Webcast

Oracle will hold a conference call and webcast today to discuss these results at 4:00 p.m. Central. A live and replay webcast will be available on the Oracle Investor Relations website at www.oracle.com/investor/.

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

# # #

Trademarks

Oracle, Java, and MySQL are registered trademarks of Oracle Corporation.

"Safe Harbor" Statement: Statements in this press release relating to Oracle's future plans, expectations, beliefs, intentions and prospects, including statements regarding the future performance of certain of our investments and the competitive advantages of the MySQL HeatWave technology, are "forward-looking statements" and are subject to material risks and uncertainties. Many factors could affect our current expectations and our actual results, and could cause actual results to differ materially. We presently consider the following to be among the important factors that could cause actual results to differ materially from expectations: (1) The COVID-19 pandemic has affected how we and our customers are operating our respective businesses, and the duration and extent to which this will impact our future results of operations remains uncertain. (2) Our success depends upon our ability to develop new products and services, integrate acquired products and services and enhance our existing products and services. (3) Our cloud strategy, including our Oracle Cloud Software-as-a-Service and Infrastructure-as-a-Service offerings, may adversely affect our revenues and profitability. (4) We might experience significant coding, manufacturing or configuration errors in our cloud, license and hardware offerings. (5) If our security measures for our products and services are compromised and as a result, our data, our customers' data or our IT systems are accessed improperly, made unavailable, or improperly modified, our products and services may be perceived as vulnerable, our brand and reputation could be damaged, the IT services we provide to our customers could be disrupted, and customers may stop using our products and services, any of which could reduce our revenue and earnings, increase our expenses and expose us to legal claims and regulatory actions. (6) Our business practices with respect to data could give rise to operational interruption, liabilities or reputational harm as a result of governmental regulation, legal requirements or industry standards relating to privacy and data protection. (7) Economic, political and market conditions can adversely affect our business, results of operations and financial condition, including our revenue growth and profitability, which in turn could adversely affect our stock price. (8) If we are unable to compete effectively, the results of operations and prospects for our business could be harmed. (9) Our international sales and operations subject us to additional risks that can adversely affect our operating results. (10) We are susceptible to third-party manufacturing and logistics delays, which could result in the loss of sales and customers. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or by contacting Oracle's Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on the Oracle Investor Relations website at www.oracle.com/investor/. All information set forth in this press release is current as of March 10, 2022. Oracle undertakes no duty to update any statement in light of new information or future events.

 

 


The following information was filed by Oracle Corp (ORCL) on Thursday, March 10, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Oracle Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets Parenthetical
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Stockholders' (Deficit) Equity
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Acquisitions Narrative (Details)
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Basis Of Presentation, Recent Accounting Pronouncements And Other (Details)
Basis Of Presentation, Recent Accounting Pronouncements And Other (Policies)
Basis Of Presentation, Recent Accounting Pronouncements And Other (Tables)
Basis Of Presentation, Recent Accounting Pronouncements And Other Narrative (Details)
Basis Of Presentation, Recent Accounting Pronouncements And Other Narrative (Details1)
Deferred Revenues
Deferred Revenues (Details)
Deferred Revenues (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Fair Value Measurements Narrative (Details)
Goodwill (Details)
Income Taxes
Income Taxes (Details)
Intangible Assets (Details)
Intangible Assets Amortization (Details)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (Tables)
Legal Proceedings
Legal Proceedings (Details)
Restructuring Activities
Restructuring Activities (Details)
Restructuring Activities (Tables)
Restructuring Activities Narrative (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Segment Information Narrative (Details)
Segment Information Reconciliation (Details)
Stockholders' (Deficit) Equity
Stockholders' (Deficit) Equity (Details)
Stockholders' (Deficit) Equity (Tables)
Stockholders' (Deficit) Equity Narrative (Details)
Subsequent Events
Subsequent Events Narrative (Details)
Summary Of Cloud Services And License Support Revenues By Ecosystems (Details)
Summary Of Total Revenues By Geographic Region (Details)

Material Contracts, Statements, Certifications & more

Oracle Corp provided additional information to their SEC Filing as exhibits

Ticker: ORCL
CIK: 1341439
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-22-009859
Submitted to the SEC: Fri Mar 11 2022 4:14:54 PM EST
Accepted by the SEC: Fri Mar 11 2022
Period: Monday, February 28, 2022
Industry: Prepackaged Software

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