Oracle revenues flat in Q2, pulled down by forex effects, slower cloud growth

Nieuws Algemeen Wereld 18 DEC 2018
Oracle revenues flat in Q2, pulled down by forex effects, slower cloud growth
Oracle reported revenues for its fiscal second quarter of USD 9.56 billion, unchanged from the year before but up 2 percent at constant currency. Revenues would have been higher by USD 140 million without the strengthening of the US dollar compared to foreign currencies. CEO Safra Catz expressed confidence the company will continue to record strong EPS and free cash flow growth during the second half of the year. The board of directors meanwhile declared a quarterly cash dividend of USD 0.19 per share.

Together, revenues at Cloud Services, License Support, plus Cloud License and On-Premise License, lifted 1 percent to USD 7.9 billion. Cloud Services and License Support alone went 3 percent higher to USD 6.63 billion, offsetting declines elsewhere. Cloud License and On-Premise License revenues declined 9 percent to 1.21 billion. Revenues fell 5 percent for both Hardware and Services, to USD 891 million and 817 million respectively. 

The operating profit for the quarter lifted 2 percent to USD 3.1 billion, with an operating margin of 32 percent. The net profit advanced 5 percent to USD 2.3 billlion, with earnings per share rising 18 percent to USD 0.61. The adjusted net profit was up 3 percent, with adjusted EPS climbing 16 percent to USD 0.80, in line with expectations. Operating cash flows rose to USD 15.54 billion from 14.58 billion the year before while free cash flow went to USD 13.77 billion from 12.544 billion. 

 

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