Oracle latest financial results announced

Oracle Corporation reported its fiscal 2022 third quarter financial results after the closing bell on Wall Street today.

The US software and hardware manufacturer reported revenue of $10.513 billion vs. $10.506 billion expected.

Earnings per share at $1.13 per share, falling short of analyst estimate of $1.18 per share.

The company also announced a quarterly cash dividend of $0.32 per share of outstanding common stock

“In Q3, Oracle delivered over 7% constant currency revenue growth—our highest quarterly organic revenue growth rate since we began our transition to the cloud,” said Oracle CEO, Safra Catz following the latest results.

“This strong top line growth was coupled with a solid non-GAAP constant currency operating profit growth of 4%, but the big story is that our overall revenue growth is being driven by both our rapidly growing Cloud Infrastructure and Cloud Applications businesses. Q3 Cloud Infrastructure revenue was up 47% in constant currency.  Q3 Cloud Applications growth was led by Fusion ERP, which was up 35% in constant currency and NetSuite ERP which was up 29% in constant currency. Total Cloud revenue which includes Cloud Infrastructure and Cloud Applications is now over $11 billion a year,” Catz added.

Oracle Corporation (ORCL)

Shares of Oracle were little changed at the end of trading on Thursday, up by 0.84% at $76.70 a share.

Here is how the stock has performed in the past year –

• 1 Month: -6.22%
• 3 Month: -13.53%
• Year-to-date: -11.98%
• 1 Year: +13.87%

Oracle is the 49^th largest company in the world with total market cap of $204.85 billion.

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Sources: Oracle Corporation, TradingView, MetaTrader 5, CompaniesMarketCap