Oracle (ORCL) Q1 earnings report 2024

Date:

Share post:


Larry Ellison, Oracle’s chairman and technology chief, speaks at the Oracle OpenWorld conference in San Francisco on September 16, 2019.

Justin Sullivan | Getty Images

Oracle shares moved about 5% lower in extended trading on Monday after the database software maker disclosed fiscal first-quarter revenue that was slightly lighter than expected.

Here’s how the company did:

  • Earnings: $1.19 per share, adjusted, vs. $1.15 per share as expected by analysts, according to LSEG.
  • Revenue: $12.45 billion, vs. $12.47 billion as expected by analysts, according to LSEG.

Oracle’s revenue grew 9% year over year in the quarter ended Aug. 31, according to a statement. Net income increased to $2.42 billion, or 86 cents per share, compared with $1.55 billion, or 56 cents per share, in the year-ago quarter.

Oracle’s cloud services and license support segment produced $9.55 billion in revenue, up 13% and above the StreetAccount consensus of $9.44 billion. But the cloud license and on-premises license segment posted $809 million in revenue, which was down 10% and lower than the $892.7 million StreetAccount consensus.

Hardware revenue, at $714 million, declined 6%. Analysts polled by StreetAccount were looking for $739.6 million.

Revenue from cloud infrastructure, totaling $1.5 billion, increased 66%, slowing from 76% in the prior quarter. Oracle remains smaller than Amazon, Google and Microsoft in the category.

“As of today, AI development companies have signed contracts to purchase more thanĀ $4 billionĀ of capacity in Oracle’s Gen2 Cloud. That’s twice as much as we had booked at the end of Q4,” Larry Ellison, Oracle’s chairman and technology chief, was quoted as saying in the statement.

During the quarter, Oracle announced new database hardware, Micros point-of-sale workstations and artificial-intelligence features in its Fusion Cloud Human Capital Management software.

Executives will discuss the results and issue guidance on a conference call with analysts starting at 5 p.m. ET.

Excluding Monday’s after-hours move, Oracle shares are up 55% so far this year, while the S&P 500 index has risen about 17% over the same period.

This is breaking news. Please check back for updates.

WATCH: Salesforce’s AI goals more of a ’24 story than this year, says Jefferies’ Brent Thill

Salesforce's AI goals more of a '24 story than this year, says Jefferies' Brent Thill



Source link

spot_img

Related articles

Apply at least 6 months ahead

Fatcamera | E+ | Getty ImagesPassport applications are at an all-time highMore Americans planned trips abroad this...

Apple CEO Tim Cook appears in New York to celebrate iPhone 15 release

Apple CEO Tim Cook opened the company's Fifth Avenue store Friday in New York to celebrate the...

Why it’s cheaper to buy holiday flights in October

'Prices will start to rise after about Oct.14th'Travelers are seeing cheaper flights this year. Domestic round-trip fares...

Ethereum founder on U.S. crypto crackdown

Ethereum co-founder Vitalik Buterin in Prague, where he finds refuge with like-minded programmers looking to change the...