- GAAP EPS up 16 percent year-over-year to $0.72, non-GAAP EPS up 15 percent to $0.93
- Fusion ERP cloud revenue up 33 percent, NetSuite ERP cloud revenue up 23 percent
Karachi, September 11, 2020: Oracle Corporation (NYSE: ORCL) today announced fiscal 2021 Q1 results. Total quarterly revenues were up 2 percent year-over-year in USD and in constant currency to $9.4 billion compared to Q1 last year.
Cloud services and license support revenues were up 2 percent in USD and in constant currency to $6.9 billion. Cloud license and on-premise license revenues were up 9 percent in USD and 8 percent in constant currency to $886 million.
Q1 GAAP operating income was up 12 percent to $3.2 billion and GAAP operating margin was 34 percent. Non-GAAP operating income was up 9 percent to $4.2 billion and non-GAAP operating margin was 45 percent. GAAP net income was up 5 percent to $2.3 billion, and non-GAAP net income was up 4 percent to $2.9 billion. GAAP earnings per share was up 16 percent to $0.72, while non-GAAP earnings per share was up 15 percent to $0.93. Short-term deferred revenues were $9.9 billion. Operating cash flow was $13.1 billion during the trailing twelve months.
“Q1 was fantastic with total revenue beating guidance by more than $150 million, and non-GAAP earnings per share beating guidance by $0.07,” said Oracle CEO, Safra Catz. “Our cloud applications businesses continued their rapid revenue growth with Fusion ERP up 33 percent and NetSuite ERP up 23 percent. We now have 7,300 Fusion ERP customers and 23,000 NetSuite ERP customers in the Oracle Cloud. Our infrastructure businesses are also growing rapidly as revenue from Zoom more than doubled from Q4 last year to Q1 in this year. I have a high level of confidence that our revenue will accelerate as we move on past COVID-19.”
“I believe that the Oracle Cloud offers better Infrastructure-as-a-Service (IaaS) technology than any other cloud vendor,” said Oracle Chairman and CTO, Larry Ellison. “The really good news here is that I’m not the only one who thinks that’s true. Here is an approved quote from IDC.”
In the 2020 Industry CloudPath survey that IDC recently released where it surveyed 935 IaaS customers on their satisfaction with top IaaS vendors including Oracle, Amazon Web Services, Microsoft, IBM, Google Cloud…. Oracle IaaS (OCI) received the highest satisfaction score AND the biggest year-over-year score increase of all IaaS vendors. In addition, 86 percent of those surveyed said they expect their spend on Oracle IaaS (OCI) to increase in the future. The board of directors 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 October 8, 2020, with a payment date of October 22, 2020.