Oracle Corporation (NYSE:ORCL) released the results from its most recently completed quarter this afternoon, posting non-GAAP earnings of 68 cents per share on revenue of $9.3 billion. Analysts had been expecting the company to report earnings of 70 cents per share on revenue of $9.36 billion.
Breaking down Oracle’s results
Oracle Corporation (NYSE:ORCL) said GAAP earnings per share rose 8% to 56 cents. The company said new software licenses and cloud software subscriptions rose 4% to $4.2 billion, while revenues from software license updates and product support revenues rose 5% to $4.6 billion for the quarter. Revenues from hardware systems products rose 8% to $725 million.
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Excluding negative impacts from the strengthening of the U.S. dollar, Oracle Corporation (NYSE:ORCL) said its reported GAAP earnings per share would have risen 10% and its non-GAAP earnings per share would have risen 7%.
Management reported strong growth in all areas of the business
“Sales of Oracle’s Cloud Applications accelerated sharply in the quarter with bookings growth of over 60%,” said Oracle Corporation (NYSE:ORCL) President Mark Hurd in a statement. “Our quarterly Cloud Application revenue is now approaching $300 million. All of our strategic Cloud Application Suites, including Fusion Enterprise Resource Planning, Fusion Human Capital Management and Fusion Customer Experience, posted triple-digit revenue growth.”
“Oracle’s Engineered Server Systems, including Exadata and SPARC SuperClusters, achieved over a 30% constant currency growth rate in the quarter, while throughout the industry traditional high-end server product lines are in steep decline,” said Oracle Corporation (NYSE:ORCL) CEO Larry Ellison in a statement. “Our Engineered Systems business is growing rapidly for the same fundamental reason that our Cloud Applications business is growing rapidly. In both cases, customers want us to integrate the hardware and software and make it work together, so they don’t have to.”
Oracle’s board declares dividend
Oracle Corporation (NYSE:ORCL)’s board of directors also declared a 12-cent per share dividend. It will be payable to shareholders of record as of the end of the business day on April 8. The company will make the payments on April 29.