Oracle Reports Fiscal 2022 Third Quarter Financial Results
Mar 11, 2022 By MarketDepth
Oracle Corporation (NYSE: ORCL) reported fiscal 2022 third quarter results. Quarterly revenues were up 4% YoY in USD and up 7% in constant currency to USD 10.5 Billion. Cloud services and license support revenues rose 5% in USD and u 8% in constant currency to USD 7.6 Billion.
Constant Revenue Growth
For the third quarter, GAAP operating income amounted to USD 3.8 Billion as non-GAAP operating income reached USD 4.8 Billion. Short term deferred revenues reached USD 7.9 Billion as operating cash flow was USD 10.4 Billion during the trailing twelve months. “In Q3, Oracle delivered over 7% constant currency revenue growth—our highest quarterly organic revenue growth rate since we began our transition to the cloud,” said Oracle CEO, Safra Catz. “This strong top line growth was coupled with a solid non-GAAP constant currency operating profit growth of 4%, but the big story is that our overall revenue growth is being driven by both our rapidly growing Cloud Infrastructure and Cloud Applications businesses. Q3 Cloud Infrastructure revenue was up 47% in constant currency. Q3 Cloud Applications growth was led by Fusion ERP, which was up 35% in constant currency and NetSuite ERP which was up 29% in constant currency. Total Cloud revenue which includes Cloud Infrastructure and Cloud Applications is now over $11 billion a year.”
“In Q3, Oracle completed development of the multi-cloud version of our MySQL HeatWave open-source database. The MySQL HeatWave database is already running in the Oracle Gen2 Cloud. In a few weeks, MySQL HeatWave will also be available in the Amazon Cloud and the Microsoft Azure Cloud. MySQL HeatWave was designed to compete with Amazon’s version of MySQL called Aurora, Snowflake and other popular cloud databases. What customer and database analysts are saying about Oracle’s new MySQL HeatWave database is simply astonishing. Here are a couple of examples of what the database analysts are saying.”Oracle Chairman and CTO, Larry Ellison