• Friday, Oct 23, 2020
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Oracle announces FY21 Q1 financial results

  • Published at 06:59 pm September 29th, 2020
Oracle
File photo: The Oracle logo is shown on an office building in Irvine, California, US June 28, 2018 Reuters

Total quarterly revenues in the first quarter of 2020-21 fiscal year were up 2% year-over-year and in constant currency to $9.4 billion compared to Q1 last year

Oracle Corporation on Tuesday revealed that its total quarterly revenues in the first quarter of 2020-21 fiscal year were up 2% year-over-year and in constant currency to $9.4 billion compared to Q1 last year.

Cloud services and license support revenues were up 2% and in constant currency to $6.9 billion, while cloud license and on-premise license revenues were up 9% and 8% in constant currency to $886 million, according to a press release.

Q1 GAAP operating income was up 12% to $3.2 billion and GAAP operating margin was 34%.

Non-GAAP operating income was up 9% to $4.2 billion and non-GAAP operating margin was 45%.

GAAP net income was up 5% to $2.3 billion, and non-GAAP net income was up 4% to $2.9 billion.

GAAP earnings per share was up 16% to $0.72, while non-GAAP earnings per share was up 15% to $0.93.

Short-term deferred revenues were $9.9 billion. Operating cash flow was $13.1 billion during the trailing twelve months.

“Q1 was fantastic with total revenue beating guidance by more than $150 million, and non-GAAP earnings per share beating guidance by $0.07,” said Oracle CEO, Safra Catz.

“Our cloud applications businesses continued their rapid revenue growth with Fusion ERP up 33% and NetSuite ERP up 23%. We now have 7,300 Fusion ERP customers and 23,000 NetSuite ERP customers in the Oracle Cloud. Our infrastructure businesses are also growing rapidly as revenue from Zoom more than doubled from Q4 last year to Q1 in this year. I have a high level of confidence that our revenue will accelerate as we move on past Covid-19.”

“I believe that the Oracle Cloud offers better Infrastructure-as-a-Service (IaaS) technology than any other cloud vendor,” said Oracle Chairman and CTO, Larry Ellison.

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