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Wednesday, December 18, 2013

Oracle Reports GAAP EPS up 5% to 56 cents, Non-GAAP EPS up 7% to 69 cents

Oracle Corporation announced that both fiscal 2014 Q2 GAAP and non-GAAP total revenues were up 2% to $9.3 billion. GAAP new software licenses and cloud software subscriptions revenues were unchanged at $2.4 billion, while non-GAAP new software licenses and cloud software subscriptions revenues were down 1% to $2.4 billion. Both GAAP and non-GAAP software license updates and product support revenues were up 6% to $4.5 billion. Hardware Systems revenues, including hardware systems products and hardware systems support, were unchanged at $1.3 billion. Hardware systems products revenues were down 3% to $714 million. GAAP operating income was down 2% to $3.4 billion, and the GAAP operating margin was 37%. Non-GAAP operating income was down 1% at $4.2 billion, and the non-GAAP operating margin was 46%. GAAP net income was down 1% to $2.6 billion, while non-GAAP net income was up 1% to $3.2 billion. GAAP earnings per share were up 5% to $0.56, while non-GAAP earnings per share were up 7% to $0.69. GAAP operating cash flow on a trailing twelve-month basis was $15.2 billion.

Without the impact of the US dollar strengthening compared to foreign currencies, Oracle’s reported Q2 GAAP earnings per share would have been up 7% and non-GAAP earnings per share would have been up 9%. GAAP and non-GAAP total revenues also would have been up 3%; GAAP and non-GAAP new software licenses and cloud software subscriptions revenues would have been up 1%. Hardware Systems revenues, including hardware systems products and hardware systems support, would have been up 2%.

“We’re very pleased with our results as new software license and cloud software subscription revenue grew 1% in constant currency over the 18% growth reported last year,” said Oracle President and CFO, Safra Catz. “Software revenue grew 5% helping drive our tremendous cash flow and for the first time ever, we generated more than $15 billion in operating cash flow over four quarters.”

“Our hardware business, including support, grew 2% in constant currency this quarter driven by double-digit revenue growth in Exadata, Exalogic and Exalytics,” said Oracle President Mark Hurd. “The SPARC SuperCluster and Big Data Appliance were even better, with triple-digit growth and we expect hardware products will show growth next quarter.”

“Our billion dollar SaaS business delivered overall bookings growth of 35% in the quarter,” said Oracle CEO, Larry Ellison. “Our fastest growing cloud services were Fusion Human Capital Management and Fusion Salesforce Automation, each growing bookings at a triple-digit rate.”

The Board of Directors declared a quarterly cash dividend of $0.12 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on January 7, 2014, with a payment date of January 28, 2014.

To view an unabridged version of this press release, visit: http://www.oracle.com/us/corporate/press/2087050

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