Technology

Oracle (ORCL) reported fiscal Q3 non-GAAP earnings late Monday of $1.41 per diluted share, up from $1.22 a year earlier. Analysts polled by Capital IQ expected $1.38. Revenue for the quarter ended Feb. 29 was $13.28 billion, up from $12.40 billion a year earlier. Analysts surveyed by Capital IQ expected $13.29 billion. The company kept the quarterly dividend at $0.40 per share, payable April 24 to shareholders of record on April 10. The company’s shares were rising past 6% in recent after-hours activity.

Oracle Said Total Revenues, Including Cerner, Are Expected To Grow From 4% To 6% Total Revenue Excluding Cerner Are Expected To Grow 6% To 8% Total Revenue -Conf Call。

Oracle can’t seem to add data center capacity fast enough. The company is working “as quickly as we can” to get its cloud capacity up because of its enormous backlog, CEO Safra Catz says on a call with analysts. Catz says the company has at least 40 new AI bookings worth over $1 billion that are yet to come online. Oracle is trying to focus on “much larger chunks of data center capacity” as it looks to keep pace with surging cloud demand. The company expects revenue growth to accelerate as supply constraints ease in the future, with cloud revenue already up 25% in 3Q. Shares rise 14% to $129.88 after-hours.

Oracle (ORCL) today announced fiscal 2024 Q3 results. Total quarterly revenues were up 7% year-over-year in both USD and constant currency to $13.3 billion. Cloud services and license support revenues were up 12% in USD and up 11% in constant currency to $10.0 billion. Cloud license and on-premise license revenues were down 3% in both USD and constant currency to $1.3 billion. Here are some financial highlights: Q3 GAAP Earnings per Share $0.85, Non-GAAP Earnings per Share up 16% to $1.41 Q3 Total Revenue $13.3 billion, up 7% in both USD and constant currency Q3 Total Remaining Performance Obligations up 29% to $80 billion Q3 Cloud Revenue (IaaS plus SaaS) $5.1 billion, up 25% in USD, up 24% in constant currency Q3 Cloud Infrastructure (IaaS) Revenue $1.8 billion, up 49% in both USD and constant currency Q3 Cloud Application (SaaS) Revenue $3.3 billion, up 14% in both USD and constant

Oracle has had no problems getting access to high-speed chips needed for new data centers. CEO Safra Catz says on a call with analysts that the company is “very good” in its graphic processing unit access and capability. Instead, the bottleneck in building data centers is physical infrastructure. Co-founder and CTO Larry Ellison says on the call that “the long pole in the tent is actually building the structure, connecting the electricity and connecting the communication links.” The software company has been trying to build new data centers at lightning speed to match surging AI-related demand.

The following is a summary of the Oracle Corporation (ORCL) Q3 2024 Earnings Call Transcript: Financial Performance: Oracle reported Q3 revenue of $13.3 billion, a 7% increase, with EPS standing at $1.41. Cloud revenue grew by 26% reaching $4.4 billion. Cloud services and license support revenue reported at $10 billion, a rise of 11%. Gross margin for Cloud Services and License Support was at 77%, with non-GAAP operating income increasing by 12% at $5.8 billion. Free cash flow escalated by 68% to $12.3 billion. Short term deferred revenue balance stood at $8.9 billion, a 4% increase. Oracle repurchased 4 million shares totalling $450 million. Business Progress: Oracle Cloud Infrastructure (OCI) is becoming the central growth driver. The company has embedded AI capabilities throughout Fusion, Industry Cloud applications, and autonomous databases, widening their multi-cloud offerings. Increased investment in cloud infrastructure with expected CapEx between $7 billion to $7.5 billion for the