Categories AlphaGraphs, Earnings, Technology

Oracle swings to profit in Q3, beats estimates

Oracle Corp. (ORCL) swung to a profit in the third quarter from a loss last year, helped by lower provision for income taxes as well as a decline in costs and expenses. The results exceeded analysts’ expectations.

Net income was $2.75 billion or $0.76 per share compared to a loss of $4.05 billion or $0.98 per share in the previous year quarter. Adjusted earnings grew 8% to $0.87 per share.

Total revenues declined by 1% to $9.62 billion, due to decreases in cloud license and on-premise license, hardware, and services. On a constant currency basis, total revenues increased by 3%.

Oracle third quarter 2019 earnings snapshot
Oracle Q3 2019 Earnings Infographic

Segment-wise, revenue from cloud services and license support rose by 1% to $6.7 billion while that from cloud license and on-premise license declined by 4% to $1.25 billion. Hardware revenue fell by 8% to $915 million and services revenue inched down by 1% to $786 million.

Short-term deferred revenues were up 1% to $8 billion compared to a year ago. Operating Cash Flow was $14.8 billion during the trailing twelve months.

The company’s Fusion HCM, ERP, Supply Chain, and Manufacturing Cloud applications revenue in total grew 32% in the third quarter. NetSuite ERP Cloud applications also delivered strong results with a revenue growth rate of 30%. By the end of Q3, Oracle had nearly 1,000 paying Autonomous Database customers and the company added around 4,000 new Autonomous Database trials in Q3.

Oracle also said its board of directors declared a quarterly cash dividend of $0.24 per share of outstanding common stock, reflecting a 26% increase over the current quarterly dividend of $0.19. Chairman Larry Ellison did not participate in the deliberation or the vote on this matter. This dividend will be paid on April 25, 2019, to stockholders of record as of April 11, 2019.

Shares of Oracle ended Thursday’s regular session down 0.02% at $53.05 on the NYSE. The stock has risen over 1% in the past year and over 13% in the past three months.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Infographic: How Starbucks (SBUX) performed in Q1 2023

Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today. Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections.   Global comparable store sales increased

Earnings: Google parent Alphabet (GOOG, GOOGL) reports lower Q4 profit

Alphabet Inc. (NASDAQ: GOOGL, GOOG) on Thursday reported a 1% increase in fourth-quarter 2022 revenues, with strong contributions from the cloud business. The company, which owns the largest internet search

HOG Earnings: Key quarterly highlights from Harley-Davidson’s Q4 2022 financial results

Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top