Oracle revenues lift 1% in Q1, weighed down by strong US dollar, slower growth at cloud ops

News General Global 18 SEP 2018
Oracle revenues lift 1% in Q1, weighed down by strong US dollar, slower growth at cloud ops
Oracle said revenues for its fiscal first quarter for 2019 reached USD 9.2 billion, up 1 percent from the year before in US dollars and 2 percent higher in constant currency. Cloud Services and Licence Support rose, 3 percent in US dollars and 4 percent in constant currency, to USD 6.6.09 billion, but the gains were somewhat offset by losses at Hardware and Service. Results were mixed at Cloud License and On-premise License, down 4 percent in US dollars and flat in constant currency. 

The operating profit lifted 1 percent to USD 2.8 billion while the net profit advanced 6 percent to USD 2.3 billion, with earnings per share climbing 13 percent to USD 0.57. The adjusted net profit jumped 10 percent to USD 2.8 billion, with adjusted EPS going 18 percent higher to USD 0.71. 

Oracle said it will be paying out a quarterly cash dividend of USD 0.19 per share, unchanged from previous quarters, and that it has increased its authorisation for share buybacks by USD 12.0 billion. 

CEO Safra Catz expects the company to again deliver another fiscal year of double-digit adjusted EPS growth.

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