Monday, December 17, 2018

Oracle's cloud business grows 32%, overall revenue are flat

Oracle reported revenues of $9.6 billion for its fiscal 2019 Q2, flat overall and up 2% in constant currency, compared to Q2 last year.

  • Total Cloud Services and License Support plus Cloud License and On-Premise License revenues were up 1% to $7.9 billion. 
  • Cloud Services and License Support revenues were $6.6 billion, while Cloud License and On-Premise License revenues were $1.2 billion.

GAAP operating income was up 2% to $3.1 billion and non-GAAP operating income was down 2% to $4.1 billion. GAAP net income was up 5% to $2.3 billion and non-GAAP net income was up 3% to $3.1 billion. GAAP Earnings Per Share was up 18% to $0.61 while non-GAAP Earnings Per Share was up 16% to $0.80.

“Oracle’s two cloud ERP businesses, Fusion ERP and NetSuite ERP, delivered a combined revenue growth rate of 32% in Q2,” said Oracle CEO, Mark Hurd. “With nearly 6,000 Fusion ERP customers and over 16,000 NetSuite ERP customers, Oracle is the clear leader in cloud ERP. ERP has always been the largest segment of the enterprise applications business, so we have lots of room to grow as customers migrate from their traditional on-premise ERP to the Oracle Fusion ERP Cloud.”

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