Summary
Oracle Corporation (ORCL) has filed its 10-Q for the period ending November 29, 2024. The company reported total revenues of $14.06 billion for the quarter, an increase of 9% year-over-year, driven by a strong performance in its Cloud and License segment, which saw an 11% revenue increase. This growth was primarily fueled by a significant rise in Cloud Services revenue, indicating a continued shift towards subscription-based models. Net income for the quarter rose to $3.15 billion, or $1.10 per diluted share, up from $2.50 billion and $0.89 per diluted share in the prior year's comparable period. This improvement was supported by operating income growth and effective cost management, although operating expenses did see an increase due to investments in cloud infrastructure and R&D. The company also highlighted its robust cash flow generation, with net cash provided by operating activities increasing by 23% year-over-year for the six-month period. Oracle's balance sheet remains strong, with substantial cash and marketable securities, and the company continues its capital return programs through dividends and share repurchases.
Financial Highlights
54 data points| Revenue | $14.06B |
| R&D Expenses | $2.47B |
| Operating Expenses | $9.84B |
| Operating Income | $4.22B |
| Interest Expense | $866.00M |
| Net Income | $3.15B |
| EPS (Basic) | $1.13 |
| EPS (Diluted) | $1.10 |
| Shares Outstanding (Basic) | 2.79B |
| Shares Outstanding (Diluted) | 2.87B |
Key Highlights
- 1Total revenues reached $14.06 billion for the quarter, a 9% increase year-over-year, driven by strong cloud adoption.
- 2Cloud and License segment revenue grew by 11% to $12.00 billion, representing 86% of total revenue.
- 3Cloud services revenue specifically increased by 24% year-over-year to $5.94 billion.
- 4Net income rose to $3.15 billion, or $1.10 per diluted share, compared to $2.50 billion, or $0.89 per diluted share, in the prior year.
- 5Operating income increased by 17% to $4.22 billion, reflecting improved operational efficiency.
- 6Net cash provided by operating activities for the six months ended November 30, 2024, increased by 23% to $8.73 billion.
- 7The company ended the period with $10.94 billion in cash and cash equivalents, with total liquidity (including marketable securities) at $11.31 billion.