• Q4 Total Remaining Performance Obligations up 44% to $98 billion
  • Q4 GAAP Earnings per Share $1.11, Non-GAAP Earnings per Share $1.63
  • Q4 Total Revenue $14.3 billion, up 3% in USD, up 4% in constant currency
  • Q4 Cloud Revenue (IaaS plus SaaS) $5.3 billion, up 20% in USD and constant currency
  • Q4 Cloud Infrastructure (IaaS) Revenue $2.0 billion, up 42% in USD and constant currency
  • Q4 Cloud Application (SaaS) Revenue $3.3 billion, up 10% in USD and constant currency
  • Q4 Fusion Cloud ERP (SaaS) Revenue $0.8 billion, up 14% in USD and constant currency
  • Q4 NetSuite Cloud ERP (SaaS) Revenue $0.8 billion, up 19% in USD and constant currency
  • FY 2024 Total Revenue $53.0 billion, up 6% in USD and constant currency

AUSTIN, Texas, June 11, 2024 /PRNewswire/ -- Oracle Corporation (NYSE: ORCL) today announced fiscal 2024 Q4 and full-year 2024 results. Total quarterly revenues were up 3% year-over-year in USD and up 4% in constant currency to $14.3 billion. Cloud services and license support revenues were up 9% in USD and up 10% in constant currency to $10.2 billion. Cloud license and on-premise license revenues were down 15% in USD and down 14% in constant currency to $1.8 billion

Q4 GAAP operating income was $4.7 billion. Non-GAAP operating income was $6.7 billion, up 8% in USD and up 9% in constant currency. GAAP operating margin was 33%, and non-GAAP operating margin was 47%. GAAP net income was $3.1 billion, and non-GAAP net income was $4.6 billion. Q4 GAAP earnings per share was $1.11 while non-GAAP earnings per share was $1.63.

Short-term deferred revenues were $9.3 billion. Operating cash flow was $18.7 billion during fiscal year 2024, up 9% in USD.

Fiscal year 2024 total revenues were up 6% in USD and constant currency to $53.0 billion. Cloud services and license support revenues were up 12% in USD and up 11% in constant currency to $39.4 billion. Cloud license and on-premise license revenues were down 12% in USD and constant currency to $5.1 billion.           

Fiscal year 2024 GAAP operating income was $15.4 billion, and GAAP operating margin was 29%. Non-GAAP operating income was $23.1 billion, and non-GAAP operating margin was 44%. GAAP net income was $10.5 billion, while non-GAAP net income was $15.7 billion. GAAP earnings per share was $3.71, while non-GAAP earnings per share was $5.56.

"In Q3 and Q4, Oracle signed the largest sales contracts in our history—driven by enormous demand for training AI large language models in the Oracle Cloud," said Oracle CEO, Safra Catz. "These record level sales drove RPO up 44% to $98 billion. Throughout fiscal year 2025, I expect continued strong AI demand to push Oracle sales and RPO even higher—and result in double-digit revenue growth this fiscal year. I also expect that each successive quarter should grow faster than the previous quarter—as OCI capacity begins to catch up with demand. In Q4 alone, Oracle signed over 30 AI sales contracts totaling more than $12.5 billion—including one with Open AI to train ChatGPT in the Oracle Cloud."

"Our multicloud cooperation with Microsoft expanded significantly in Q4, as we agreed to work together to support Open AI and ChatGPT—and 11 of the 23 OCI datacenters we are building inside Azure went live," said Oracle Chairman and CTO, Larry Ellison. "As this Azure/OCI cloud capacity becomes available to the large installed base of Microsoft and Oracle customers, it will turbocharge our cloud database growth. Now customers can run any and every version of the Oracle database—Autonomous, 23ai Vector DB, etc.— in both the Azure and the Oracle Clouds. As customers continue to choose and use multiple clouds, Hyperscalers like Microsoft and Google are responding by interconnecting their clouds.  Oracle recently signed an agreement with Google to interconnect our clouds—and initially build 12 OCI datacenters inside the Google Cloud. We expect the Oracle database to be available within the Google Cloud in September this year."

The board of directors declared a quarterly cash dividend of $0.40 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on July 11, 2024, with a payment date of July 25, 2024.

  • A sample list of customers which purchased Oracle Cloud services during the quarter will be available at www.oracle.com/customers/earnings/.
  • A list of recent technical innovations and announcements is available at www.oracle.com/news/.
  • To learn what industry analysts have been saying about Oracle's products and services see www.oracle.com/corporate/analyst-reports/.

Earnings Conference Call and Webcast

Oracle will hold a conference call and webcast today to discuss these results at 4:00 p.m. Central. A live and replay webcast will be available on the Oracle Investor Relations website at www.oracle.com/investor/.

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

Trademarks

Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

"Safe Harbor" Statement: Statements in this press release relating to future plans, expectations, beliefs, intentions and prospects, including expectations for AI demand driving revenue growth and the timing of such growth, the effects of our multicloud strategy on cloud database growth, and our plans for datacenters and Oracle database availability inside the Google Cloud, are "forward-looking statements" and are subject to material risks and uncertainties. Risks and uncertainties that could affect our current expectations and our actual results, include, among others: our ability to develop new products and services, integrate acquired products and services and enhance our existing products and services; our management of complex cloud and hardware offerings, including the sourcing of technologies and technology components; significant coding, manufacturing or configuration errors in our offerings; risks associated with acquisitions; economic, political and market conditions; information technology system failures, privacy and data security concerns; cybersecurity breaches; unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or by contacting Oracle's Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on the Oracle Investor Relations website at www.oracle.com/investor/. All information set forth in this press release is current as of June 11, 2024. Oracle undertakes no duty to update any statement in light of new information or future events.

 

 ORACLE  CORPORATION




Q4 FISCAL 2024 FINANCIAL RESULTS


 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS


($ in millions, except per share data)













Three Months Ended May 31,


% Increase




% Increase

(Decrease)





% of 


% of 

(Decrease)

in Constant




2024

Revenues

2023

Revenues

in US $

Currency (1)


REVENUES









Cloud services and license support 

$ 10,234

72 %

$ 9,370

68 %

9 %

10 %



Cloud license and on-premise license

1,838

13 %

2,152

15 %

(15 %)

(14 %)



Hardware

842

6 %

850

6 %

(1 %)

0 %



Services

1,373

9 %

1,465

11 %

(6 %)

(6 %)



      Total revenues

14,287

100 %

13,837

100 %

3 %

4 %


OPERATING EXPENSES









Cloud services and license support 

2,522

18 %

2,157

16 %

17 %

17 %



Hardware

241

2 %

261

2 %

(7 %)

(7 %)



Services

1,160

8 %

1,312

9 %

(12 %)

(11 %)



Sales and marketing

2,114

15 %

2,289

17 %

(8 %)

(7 %)



Research and development 

2,226

15 %

2,226

16 %

0 %

0 %



General and administrative

402

3 %

400

3 %

1 %

1 %



Amortization of intangible assets

743

5 %

870

6 %

(15 %)

(15 %)



Acquisition related and other

101

1 %

51

0 %

97 %

97 %



Restructuring

92

0 %

131

1 %

(29 %)

(29 %)



      Total operating expenses 

9,601

67 %

9,697

70 %

(1 %)

(1 %)


OPERATING INCOME

4,686

33 %

4,140

30 %

13 %

15 %



Interest expense

(878)

(6 %)

(955)

(7 %)

(8 %)

(8 %)



Non-operating expenses, net

(26)

0 %

(76)

(1 %)

(66 %)

(68 %)


INCOME BEFORE INCOME TAXES

3,782

27 %

3,109

22 %

22 %

24 %



(Provision for) benefit from income taxes

(639)

(5 %)

210

2 %

*

*


NET INCOME

$    3,143

22 %

$ 3,319

24 %

(5 %)

(4 %)











EARNINGS PER SHARE:









Basic

$      1.14


$    1.23






Diluted

$      1.11


$    1.19





WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:









Basic

2,753


2,707






Diluted

2,834


2,796


















































(1)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present

constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of

foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in

currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023,

which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods.

Movements in international currencies relative to the United States dollar during the three months ended May 31, 2024 compared

with the corresponding prior year period decreased our total revenues by 1 percentage point and operating income by 2 percentage

points.


*

Not meaningful

















 

 

ORACLE  CORPORATION






















Q4 FISCAL 2024 FINANCIAL RESULTS

RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) 

($ in millions, except per share data)

























Three Months Ended May 31,


% Increase (Decrease)
in US $

% Increase (Decrease) in
Constant Currency (2) 




2024




2024



2023




2023


GAAP

Non-GAAP

GAAP

Non-GAAP





GAAP


Adj.


Non-GAAP



GAAP


Adj.


Non-GAAP
























TOTAL REVENUES


$       14,287


$           -


$       14,287



$       13,837


$             -


$       13,837


3 %

3 %

4 %

4 %























TOTAL OPERATING EXPENSES


$         9,601


$   (1,983)


$         7,618



$         9,697


$    (2,016)


$         7,681


(1 %)

(1 %)

(1 %)

(1 %)



     Stock-based compensation (3)


1,047


(1,047)


-



964


(964)


-


9 %

*

9 %

*



     Amortization of intangible assets (4)


743


(743)


-



870


(870)


-


(15 %)

*

(15 %)

*



     Acquisition related and other


101


(101)


-



51


(51)


-


97 %

*

97 %

*



     Restructuring


92


(92)


-



131


(131)


-


(29 %)

*

(29 %)

*


OPERATING INCOME


$         4,686


$    1,983


$         6,669



$         4,140


$     2,016


$         6,156


13 %

8 %

15 %

9 %


OPERATING MARGIN %


33 %




47 %



30 %




44 %


288 bp.

219 bp.

311 bp.

235 bp.


INCOME TAX EFFECTS (5)


$           (639)


$      (519)


$        (1,158)



$            210


$       (680)


$           (470)


*

147 %

*

149 %


NET INCOME


$         3,143


$    1,464


$         4,607



$         3,319


$     1,336


$         4,655


(5 %)

(1 %)

(4 %)

0 %


DILUTED EARNINGS PER SHARE


$           1.11




$           1.63



$           1.19




$           1.67


(7 %)

(2 %)

(5 %)

(1 %)


DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING


2,834


-


2,834



2,796


-


2,796


1 %

1 %

1 %

1 %










































(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with
our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures,
the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A. 






















(2)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our
underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than
United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the
respective periods. 






















(3)

Stock-based compensation was included in the following GAAP operating expense categories:




























Three Months Ended



Three Months Ended









May 31, 2024



May 31, 2023









GAAP


Adj.


Non-GAAP



GAAP


Adj.


Non-GAAP








     Cloud services and license support


$            140


$      (140)


$               -



$            117


$      (117)


$               -








     Hardware


6


(6)


-



5


(5)


-








     Services


44


(44)


-



38


(38)


-








     Sales and marketing


178


(178)


-



177


(177)


-








     Research and development


583


(583)


-



535


(535)


-








     General and administrative


96


(96)


-



92


(92)


-








           Total stock-based compensation


$         1,047


$   (1,047)


$               -



$            964


$      (964)


$               -



























(4)

Estimated future annual amortization expense related to intangible assets as of May 31, 2024 was as follows:



     Fiscal 2025


$         2,303



















     Fiscal 2026


1,639



















     Fiscal 2027


672



















     Fiscal 2028


635



















     Fiscal 2029


561



















     Thereafter


1,080



















           Total intangible assets, net


$         6,890






































(5)

Income tax effects were calculated reflecting an effective GAAP tax rate of 16.9% and (6.7%) in the fourth quarter of fiscal 2024 and 2023, respectively, and an effective non-GAAP tax rate of 20.1% and 9.2% in the
fourth quarter of fiscal 2024 and 2023, respectively. The difference in our GAAP and non-GAAP tax rates in each of the fourth quarter of fiscal 2024 and 2023 was primarily due to the net tax effects related to stock-
based compensation expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to
an income tax benefit that was previously recorded due to the partial realignment of our legal entity structure.


*

Not meaningful

 


















 

 

ORACLE  CORPORATION 











FISCAL 2024 YEAR TO DATE FINANCIAL RESULTS 


CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 


($ in millions, except per share data)













Year Ended May 31,


% Increase




% Increase

(Decrease)





% of 


% of 

(Decrease)

in Constant




2024

Revenues

2023

Revenues

in US $

Currency (1)


REVENUES









Cloud services and license support 

$ 39,383

74 %

$ 35,307

71 %

12 %

11 %



Cloud license and on-premise license

5,081

10 %

5,779

12 %

(12 %)

(12 %)



Hardware 

3,066

6 %

3,274

6 %

(6 %)

(7 %)



Services

5,431

10 %

5,594

11 %

(3 %)

(3 %)



      Total revenues

52,961

100 %

49,954

100 %

6 %

6 %


OPERATING EXPENSES









Cloud services and license support 

9,427

18 %

7,763

16 %

21 %

21 %



Hardware

891

2 %

1,040

2 %

(14 %)

(15 %)



Services

4,825

9 %

4,761

10 %

1 %

1 %



Sales and marketing

8,274

15 %

8,833

18 %

(6 %)

(7 %)



Research and development 

8,915

17 %

8,623

17 %

3 %

3 %



General and administrative

1,548

3 %

1,579

3 %

(2 %)

(2 %)



Amortization of intangible assets

3,010

6 %

3,582

7 %

(16 %)

(16 %)



Acquisition related and other

314

0 %

190

0 %

65 %

64 %



Restructuring

404

1 %

490

1 %

(18 %)

(18 %)



      Total operating expenses 

37,608

71 %

36,861

74 %

2 %

2 %


OPERATING INCOME 

15,353

29 %

13,093

26 %

17 %

16 %



Interest expense

(3,514)

(7 %)

(3,505)

(7 %)

0 %

0 %



Non-operating expenses, net

(98)

0 %

(462)

(1 %)

(79 %)

(80 %)


INCOME BEFORE INCOME TAXES

11,741

22 %

9,126

18 %

29 %

27 %



Provision for income taxes

(1,274)

(2 %)

(623)

(1 %)

105 %

103 %


NET INCOME 

$ 10,467

20 %

$    8,503

17 %

23 %

22 %











EARNINGS PER SHARE:









Basic

$      3.82


$      3.15






Diluted

$      3.71


$      3.07





WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:









Basic

2,744


2,696






Diluted

2,823


2,766


















































(1)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present
constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of
foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in
currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023,
which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods.
Movements in international currencies relative to the United States dollar during the year ended May 31, 2024 compared with the
corresponding prior year period increased our operating income by 1 percentage point.











 

 

ORACLE  CORPORATION






















FISCAL 2024 YEAR TO DATE FINANCIAL RESULTS

RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) 

($ in millions, except per share data)

























Year Ended May 31,


% Increase (Decrease)
in US $

% Increase (Decrease)
in Constant Currency (2) 




2024




2024



2023




2023


GAAP

Non-GAAP

GAAP

Non-GAAP





GAAP


Adj.


Non-GAAP



GAAP


Adj.


Non-GAAP
























TOTAL REVENUES


$       52,961


$            -


$       52,961



$       49,954


$            -


$       49,954


6 %

6 %

6 %

6 %























TOTAL OPERATING EXPENSES


$       37,608


$   (7,702)


$       29,906



$       36,861


$   (7,809)


$       29,052


2 %

3 %

2 %

2 %



     Stock-based compensation (3)


3,974


(3,974)


-



3,547


(3,547)


-


12 %

*

12 %

*



     Amortization of intangible assets (4)


3,010


(3,010)


-



3,582


(3,582)


-


(16 %)

*

(16 %)

*



     Acquisition related and other


314


(314)


-



190


(190)


-


65 %

*

64 %

*



     Restructuring


404


(404)


-



490


(490)


-


(18 %)

*

(18 %)

*


OPERATING INCOME


$       15,353


$    7,702


$       23,055



$       13,093


$    7,809


$      20,902


17 %

10 %

16 %

10 %


OPERATING MARGIN %


29 %




44 %



26 %




42 %


278 bp.

169 bp.

271 bp.

169 bp.


INCOME TAX EFFECTS (5)


$        (1,274)


$   (2,459)


$        (3,733)



$           (623)


$   (2,136)


$       (2,759)


105 %

35 %

103 %

35 %


NET INCOME 


$       10,467


$    5,243


$       15,710



$         8,503


$    5,673


$      14,176


23 %

11 %

22 %

10 %


DILUTED EARNINGS PER SHARE


$           3.71




$           5.56



$           3.07




$          5.12


21 %

9 %

20 %

8 %


DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING


2,823


-


2,823



2,766


-


2,766


2 %

2 %

2 %

2 %












































(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read
only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the
reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.























(2)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for
assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for
entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023, which was the last day of our prior
fiscal year, rather than the actual exchange rates in effect during the respective periods.























(3)

Stock-based compensation was included in the following GAAP operating expense categories:






























Year Ended



Year Ended










May 31,
 2024



May 31,
 2023










GAAP


Adj.


Non-GAAP



GAAP


Adj.


Non-GAAP








     Cloud services and license support


$            525


$      (525)


$               -



$            435


$      (435)


$               -








     Hardware


23


(23)


-



18


(18)


-








     Services


167


(167)


-



137


(137)


-








     Sales and marketing


667


(667)


-



611


(611)


-








     Research and development


2,225


(2,225)


-



1,983


(1,983)


-








     General and administrative


367


(367)


-



363


(363)


-








           Total stock-based compensation


$         3,974


$   (3,974)


$               -



$         3,547


$   (3,547)


$               -




























(4)

Estimated future annual amortization expense related to intangible assets as of May 31, 2024 was as follows:



     Fiscal 2025


$         2,303



















     Fiscal 2026


1,639



















     Fiscal 2027


672



















     Fiscal 2028


635



















     Fiscal 2029


561



















     Thereafter


1,080



















           Total intangible assets, net


$         6,890







































(5)

Income tax effects were calculated reflecting an effective GAAP tax rate of 10.9% and 6.8% in fiscal 2024 and 2023, respectively, and an effective non-GAAP tax rate of 19.2% and 16.3% in fiscal
2024 and 2023, respectively. The difference in our GAAP and non-GAAP tax rates in each of fiscal 2024 and 2023 was primarily due to the net tax effects related to stock-based compensation
expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to an
income tax benefit that was previously recorded due to the partial realignment of our legal entity structure.


*

Not meaningful























 

 

 

ORACLE  CORPORATION









FISCAL 2024 FINANCIAL RESULTS


CONDENSED CONSOLIDATED BALANCE SHEETS


($ in millions)












May 31,

May 31,





2024

2023


ASSETS





Current Assets:






Cash and cash equivalents

$   10,454


$      9,765



Marketable securities

207


422



Trade receivables, net

7,874


6,915



Prepaid expenses and other current assets

4,019


3,902




Total Current Assets

22,554


21,004


Non-Current Assets:






   Property, plant and equipment, net

21,536


17,069



   Intangible assets, net

6,890


9,837



   Goodwill, net

62,230


62,261



   Deferred tax assets

12,273


12,226



   Other non-current assets

15,493


11,987




Total Non-Current Assets

118,422


113,380


TOTAL ASSETS

$ 140,976


$ 134,384


LIABILITIES AND STOCKHOLDERS' EQUITY





Current Liabilities:






Notes payable and other borrowings, current 

$   10,605


$      4,061



Accounts payable

2,357


1,204



Accrued compensation and related benefits

1,916


2,053



Deferred revenues

9,313


8,970



Other current liabilities

7,353


6,802




Total Current Liabilities

31,544


23,090


Non-Current Liabilities:






Notes payable and other borrowings, non-current

76,264


86,420



Income taxes payable

10,817


11,077



Deferred tax liabilities

3,692


5,772



Other non-current liabilities

9,420


6,469




Total Non-Current Liabilities

100,193


109,738


Stockholders' Equity

9,239


1,556


TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$ 140,976


$ 134,384









 

 

 

ORACLE  CORPORATION 








FISCAL 2024 FINANCIAL RESULTS


CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS


($ in millions)










Year Ended May 31,




2024

2023


Cash Flows From Operating Activities:





Net income 

$      10,467


$        8,503


Adjustments to reconcile net income to net cash provided by operating activities:





Depreciation

3,129


2,526


Amortization of intangible assets

3,010


3,582


Deferred income taxes

(2,139)


(2,167)


Stock-based compensation

3,974


3,547


Other, net

720


661


Changes in operating assets and liabilities, net of effects from acquisitions:





Increase in trade receivables, net

(965)


(151)


Decrease in prepaid expenses and other assets

542


317


Decrease in accounts payable and other liabilities

(594)


(281)


Decrease in income taxes payable

(127)


(153)


Increase in deferred revenues

656


781


   Net cash provided by operating activities

18,673


17,165


Cash Flows From Investing Activities:





Purchases of marketable securities and other investments

(1,003)


(1,181)


Proceeds from sales and maturities of marketable securities and other investments

572


1,113


Acquisitions, net of cash acquired

(63)


(27,721)


Capital expenditures

(6,866)


(8,695)


   Net cash used for investing activities

(7,360)


(36,484)


Cash Flows From Financing Activities:





Payments for repurchases of common stock

(1,202)


(1,300)


Proceeds from issuances of common stock

742


1,192


Shares repurchased for tax withholdings upon vesting of restricted stock-based awards

(2,040)


(1,203)


Payments of dividends to stockholders

(4,391)


(3,668)


(Repayments of) proceeds from issuances of commercial paper, net

(167)


500


Proceeds from issuances of senior notes and other borrowings, net of issuance costs

-


33,494


Repayments of senior notes and other borrowings

(3,500)


(21,050)


Other, net

4


(55)


   Net cash (used for) provided by financing activities

(10,554)


7,910


Effect of exchange rate changes on cash and cash equivalents

(70)


(209)


Net increase (decrease) in cash and cash equivalents

689


(11,618)


Cash and cash equivalents at beginning of period

9,765


21,383


Cash and cash equivalents at end of period

$      10,454


$        9,765








 

 

 ORACLE  CORPORATION 

 FISCAL 2024 FINANCIAL RESULTS 

 FREE CASH FLOW - TRAILING 4-QUARTERS (1) 

 ($ in millions) 














 Fiscal 2023 

 Fiscal 2024 




 Q1 

 Q2 

 Q3 

 Q4 

 Q1 

 Q2 

 Q3 

 Q4 













GAAP Operating Cash Flow

$            10,542

$            15,073

$            15,503

$            17,165

$            17,745

$            17,039

$            18,239

$            18,673













Capital Expenditures

(5,168)

(6,678)

(8,205)

(8,695)

(8,290)

(6,935)

(5,981)

(6,866)













Free Cash Flow

$               5,374

$               8,395

$               7,298

$               8,470

$               9,455

$            10,104

$            12,258

$            11,807













Operating Cash Flow % Growth over prior year

(31 %)

47 %

49 %

80 %

68 %

13 %

18 %

9 %













Free Cash Flow % Growth over prior year

(57 %)

18 %

11 %

68 %

76 %

20 %

68 %

39 %
























GAAP Net Income

$               5,808

$               8,797

$               8,373

$               8,503

$               9,375

$            10,137

$            10,642

$            10,467













Operating Cash Flow as a % of Net Income

182 %

171 %

185 %

202 %

189 %

168 %

171 %

178 %













Free Cash Flow as a % of Net Income

93 %

95 %

87 %

100 %

101 %

100 %

115 %

113 %
























(1)   To supplement our statements of cash flows presented on a GAAP basis, we use non-GAAP measures of cash flows on a trailing 4-quarter basis to analyze cash flow generated from operations.
       We believe free cash flow is also useful as one of the bases for comparing our performance with our competitors. The presentation of non-GAAP free cash flow is not meant to be considered in
       isolation or as an alternative to net income as an indicator of our performance, or as an alternative to cash flows from operating activities as a measure of liquidity.





 

 















 ORACLE  CORPORATION 


 FISCAL 2024 FINANCIAL RESULTS 


 SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1) 


 ($ in millions) 



















 Fiscal 2023 






 Fiscal 2024 




 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 


 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 



REVENUES BY OFFERINGS














 Cloud services 

$    3,579

$    3,813

$    4,053

$    4,437

$   15,881


$    4,635

$    4,775

$    5,054

$    5,311

$   19,774



 License support 

4,838

4,785

4,870

4,933

19,426


4,912

4,864

4,909

4,923

19,609



 Cloud services and license support 

8,417

8,598

8,923

9,370

35,307


9,547

9,639

9,963

10,234

39,383



 Cloud license and on-premise license 

904

1,435

1,288

2,152

5,779


809

1,178

1,256

1,838

5,081



 Hardware 

763

850

811

850

3,274


714

756

754

842

3,066



 Services  

1,361

1,392

1,376

1,465

5,594


1,383

1,368

1,307

1,373

5,431



                 Total revenues

$  11,445

$  12,275

$  12,398

$  13,837

$   49,954


$  12,453

$  12,941

$  13,280

$  14,287

$   52,961

















AS REPORTED REVENUE GROWTH RATES 














Cloud services

45 %

43 %

45 %

54 %

47 %


30 %

25 %

25 %

20 %

25 %



License support

(1 %)

(2 %)

0 %

4 %

0 %


2 %

2 %

1 %

0 %

1 %



 Cloud services and license support 

14 %

14 %

17 %

23 %

17 %


13 %

12 %

12 %

9 %

12 %



 Cloud license and on-premise license 

11 %

16 %

0 %

(15 %)

(2 %)


(10 %)

(18 %)

(3 %)

(15 %)

(12 %)



 Hardware 

0 %

11 %

2 %

(1 %)

3 %


(6 %)

(11 %)

(7 %)

(1 %)

(6 %)



 Services  

74 %

74 %

74 %

76 %

75 %


2 %

(2 %)

(5 %)

(6 %)

(3 %)



          Total revenues

18 %

18 %

18 %

17 %

18 %


9 %

5 %

7 %

3 %

6 %

















CONSTANT CURRENCY REVENUE GROWTH RATES (2)














Cloud services

50 %

48 %

48 %

55 %

50 %


29 %

24 %

24 %

20 %

24 %



License support

4 %

4 %

3 %

6 %

4 %


0 %

0 %

1 %

1 %

0 %



 Cloud services and license support  

20 %

20 %

20 %

25 %

21 %


12 %

11 %

11 %

10 %

11 %



 Cloud license and on-premise license 

19 %

23 %

4 %

(14 %)

2 %


(11 %)

(19 %)

(3 %)

(14 %)

(12 %)



 Hardware  

5 %

16 %

4 %

1 %

6 %


(8 %)

(12 %)

(7 %)

0 %

(7 %)



 Services  

84 %

83 %

80 %

78 %

81 %


1 %

(3 %)

(5 %)

(6 %)

(3 %)



          Total revenues 

23 %

25 %

21 %

18 %

22 %


8 %

4 %

7 %

4 %

6 %

















CLOUD SERVICES AND LICENSE SUPPORT REVENUES














BY ECOSYSTEM














 Applications cloud services and license support 

$    4,016

$    4,080

$    4,166

$    4,390

$   16,651


$    4,471

$    4,474

$    4,584

$    4,642

$   18,172



 Infrastructure cloud services and license support 

4,401

4,518

4,757

4,980

18,656


5,076

5,165

5,379

5,592

21,211



          Total cloud services and license support revenues

$    8,417

$    8,598

$    8,923

$    9,370

$   35,307


$    9,547

$    9,639

$    9,963

$  10,234

$   39,383

















AS REPORTED REVENUE GROWTH RATES 














 Applications cloud services and license support 

32 %

30 %

31 %

36 %

32 %


11 %

10 %

10 %

6 %

9 %



 Infrastructure cloud services and license support 

2 %

3 %

7 %

14 %

6 %


15 %

14 %

13 %

12 %

14 %



          Total cloud services and license support revenues

14 %

14 %

17 %

23 %

17 %


13 %

12 %

12 %

9 %

12 %

















CONSTANT CURRENCY REVENUE GROWTH RATES (2)














 Applications cloud services and license support 

37 %

35 %

33 %

37 %

35 %


11 %

9 %

10 %

6 %

9 %



 Infrastructure cloud services and license support 

7 %

9 %

10 %

15 %

10 %


14 %

12 %

13 %

13 %

13 %



          Total cloud services and license support revenues

20 %

20 %

20 %

25 %

21 %


12 %

11 %

11 %

10 %

11 %


















GEOGRAPHIC REVENUES














 Americas 


$    7,192

$    7,786

$    7,671

$    8,577

$   31,226


$    7,841

$    8,067

$    8,270

$    8,945

$   33,122



 Europe/Middle East/Africa 


2,691

2,895

3,067

3,457

12,109


3,005

3,170

3,316

3,539

13,030



 Asia Pacific 


1,562

1,594

1,660

1,803

6,619


1,607

1,704

1,694

1,803

6,809



          Total revenues


$  11,445

$  12,275

$  12,398

$  13,837

$   49,954


$  12,453

$  12,941

$  13,280

$  14,287

$   52,961

































(1)   The sum of the quarterly information presented may vary from the year-to-date information presented due to rounding.



(2)   We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how
       our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies
       other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023 and 2022 for the fiscal 2024 and fiscal 2023 constant currency growth rate calculations
       presented, respectively, rather than the actual exchange rates in effect during the respective periods.

















 

APPENDIX A

ORACLE CORPORATION
Q4 FISCAL 2024 FINANCIAL RESULTS
EXPLANATION OF NON-GAAP MEASURES

To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude certain business combination accounting entries and expenses related to acquisitions, as well as other significant expenses including stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on these non-GAAP measures. Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects:

  • Stock-based compensation expenses: We have excluded the effect of stock-based compensation expenses from our non-GAAP operating expenses, income tax effects and net income measures. Although stock-based compensation is a key incentive offered to our employees, and we believe such compensation contributed to the revenues earned during the periods presented and also believe it will contribute to the generation of future period revenues, we continue to evaluate our business performance excluding stock-based compensation expenses. Stock-based compensation expenses will recur in future periods.
  • Amortization of intangible assets: We have excluded the effect of amortization of intangible assets from our non-GAAP operating expenses, income tax effects and net income measures. Amortization of intangible assets is inconsistent in amount and frequency and is significantly affected by the timing and size of our acquisitions. Investors should note that the use of intangible assets contributed to our revenues earned during the periods presented and will contribute to our future period revenues as well. Amortization of intangible assets will recur in future periods.
  • Acquisition related and other expenses; and restructuring expenses: We have excluded the effect of acquisition related and other expenses and the effect of restructuring expenses from our non-GAAP operating expenses, income tax effects and net income measures. We incurred expenses in connection with our acquisitions and also incurred certain other operating expenses or income, which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. Acquisition related and other expenses consisted of personnel related costs for transitional and certain other employees, certain business combination adjustments including certain adjustments after the measurement period has ended, and certain other operating items, net. Restructuring expenses consisted of employee severance and other exit costs. We believe it is useful for investors to understand the effects of these items on our total operating expenses. Although acquisition related and other expenses and restructuring expenses may diminish over time with respect to past acquisitions and/or strategic initiatives, we generally will incur certain of these expenses in connection with any future acquisitions and/or strategic initiatives.

 

Cision View original content:https://www.prnewswire.com/news-releases/oracle-announces-fiscal-2024-fourth-quarter-and-fiscal-full-year-financial-results-302169918.html

SOURCE Oracle Corporation

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