Cloud revenue up 43%, buoyed by strong growth across Fusion ERP Cloud and NetSuite.
- Q1 GAAP Earnings per Share $0.56 , Non-GAAP Earnings per Share $1.03
- Q1 Total Revenue $11.4 billion, up 18% in USD, up 23% in constant currency
- Q1 Cloud Revenue (IaaS plus SaaS) $3.6 billion, up 45% in USD, up 50% in constant currency
- Q1 Cloud Infrastructure (IaaS) Revenue $0.9 billion, up 52% in USD, up 58% in constant currency
- Q1 Cloud Application (SaaS) Revenue $2.7 billion, up 43% in USD, up 48% in constant currency
- Fusion ERP Cloud (SaaS) Revenue, up 33% in USD, up 38% in constant currency
- NetSuite ERP Cloud (SaaS) Revenue, up 27% in USD, up 30% in constant currency
AUSTIN, Texas, Sept. 12, 2022/PRNewswire/ — Oracle Corporation (NYSE: ORCL) today announced fiscal 2023 Q1 results. Total quarterly revenues were up 18%year-over-year in USD and up 23% in constant currency to $11.4 billion. Cloud services and license support revenues were up 14% in USD and up 20% in constant currency to $8.4 billion. Cloud license and on-premise license revenues were up 11% in USD and up 19% in constant currency to $0.9 billion. For the first quarter of fiscal 2023, Cerner contributed $1.4 billion to total revenues.
Q1 GAAP operating income was $2.6 billion, down 23% in USD and down 17% in constant currency. Non-GAAP operating income was $4.5 billion, up 3% in USD and up 10% in constant currency. GAAP operating margin was 23% , and non-GAAP operating margin was 39% . GAAP net income was $1.5 billion, and non-GAAP net income was $2.8 billion. Q1 GAAP earnings per share was $0.56 while non-GAAP earnings per share was $1.03 .
Short-term deferred revenues were $10.5 billion. Operating cash flow was $10.5 billion during the trailing twelve months.
The strengthening of the U.S. dollar compared to foreign currencies had a significant impact on results in the quarter. Without the impact of the U.S. dollar strengthening compared to foreign currencies, Oracle’s reported Q1 GAAP and non-GAAP earnings per share would have been 8 cents higher.
“In Q1, total revenue grew 23% in constant currency beating guidance by $200 million,” said Oracle CEO, Safra Catz. “Even without Cerner, our total revenue grew 8% in constant currency driven by Oracle’s rapidly growing applications and infrastructure cloud businesses. These two cloud businesses now account for more than 30% of our total revenue. As our cloud businesses become a larger-and-larger percentage of our overall business, we expect our constant currency organic revenue growth rate to hit double-digits with a corresponding increase in earnings per share. Cerner will also positively impact revenue and earnings per share growth in the coming quarters as we fully integrate Cerner into Oracle and benefit from the resulting cost efficiencies. This is the first quarter we owned Cerner and they just delivered the best revenue quarter in their history. We expect Cerner to do even better in the coming quarters as we develop an all-new suite of healthcare cloud services.”
“Multi-Cloud access to the Oracle Database and Oracle’s MySQL HeatWave database will make the world’s two most popular databases even more popular, ” said Oracle Chairman and CTO, Larry Ellison. “In Q1 we expanded our relationship with Microsoft by providing all versions of the Oracle database directly to Microsoft Azure customers. Now all Microsoft customers can directly access the Oracle Exadata Cloud Service, the Oracle Autonomous Database and every other Oracle Database version directly from the Azure Cloud. Today we are also announcing that Amazon Web Services customers can directly access Oracle’s MySQL HeatWave database running in the Amazon Cloud. This enables AWS users to run transaction processing, real-time analytics, and machine learning on the single unified MySQL service. MySQL HeatWave delivers 7X better price performance compared to Amazon Redshift and 10X better than Snowflake, 25X faster than Redshift ML, and up to 10X higher throughput than Aurora . See today’s MySQL HeatWave press release for customer performance benchmark verification.”
