13.09.2021 22:05:00
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Oracle Announces Fiscal 2022 First Quarter Financial Results
AUSTIN, Texas, Sept. 13, 2021 /PRNewswire/ -- Oracle Corporation (NYSE: ORCL) today announced fiscal 2022 Q1 results. Total quarterly revenues were up 4% year-over-year to $9.7 billion. Cloud services and license support revenues were up 6% to $7.4 billion. Cloud license and on-premise license revenues were down 8% to $813 million.
Q1 GAAP operating income was up 7% to $3.4 billion, and GAAP operating margin was 35%. Non-GAAP operating income was up 4% to $4.3 billion, and Non-GAAP operating margin was 45%. GAAP net income was up 9% to $2.5 billion, and GAAP earnings per share was up 19% to $0.86. Non-GAAP net income was up 2% to $2.9 billion, and Non-GAAP earnings per share was up 11% to $1.03.
Short-term deferred revenues were $10 billion. Operating cash flow was up 17% to $15.3 billion during the trailing twelve months.
"Q1 results were excellent as constant currency revenue beat guidance by $100 million with all revenue segments exceeding forecast, and Non-GAAP earnings per share beating guidance by $0.08," said Oracle CEO, Safra Catz. "Oracle's two new cloud businesses, IaaS and SaaS, are now over 25% of our total revenue with an annual run rate of $10 billion. Taken together, IaaS and SaaS are Oracle's fastest growing and highest margin new businesses. As these two cloud businesses continue to grow they will help expand our overall profit margins and push earnings per share higher."
"Last week, Cloud Wars published an article entitled 'Oracle Leapfrogs Google in Major Cloud Ranking' summarizing an upcoming Gartner Report that reviews the leading cloud infrastructure companies," said Oracle Chairman and CTO, Larry Ellison. "Please read the article and the Gartner Report for all the essential details. Oracle is delivering some truly innovative infrastructure services. Last quarter, we released the next generation of the world's most popular open source database, MySQL, which now includes the HeatWave in-memory query accelerator, and the AutoPilot management tools. Many customers measured our new MySQL cloud service to be much much faster, less expensive, and easier to use than SnowFlake, Aurora, RedShift and other commonly used cloud databases. In response to requests from some of those customers, we decided to make MySQL HeatWave available on other clouds in addition to the Oracle Cloud."
The board of directors declared a quarterly cash dividend of $0.32 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on October 12, 2021, with a payment date of October 26, 2021.
- 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.html.
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.
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Trademarks
Oracle, Java, and MySQL are registered trademarks of Oracle Corporation.
"Safe Harbor" Statement: Statements in this press release relating to Oracle's future plans, expectations, beliefs, intentions and prospects, including statements regarding growth in our cloud businesses, profit margins and EPS, are "forward-looking statements" and are subject to material risks and uncertainties. Many factors could affect our current expectations and our actual results, and could cause actual results to differ materially. We presently consider the following to be among the important factors that could cause actual results to differ materially from expectations: (1) The COVID-19 pandemic has affected how we and our customers are operating our respective businesses, and the duration and extent to which this will impact our future results of operations remains uncertain. (2) Our success depends upon our ability to develop new products and services, integrate acquired products and services and enhance our existing products and services. (3) Our cloud strategy, including our Oracle Cloud Software-as-a-Service and Infrastructure-as-a-Service offerings, may adversely affect our revenues and profitability. (4) We might experience significant coding, manufacturing or configuration errors in our cloud, license and hardware offerings. (5) If our security measures for our products and services are compromised and as a result, our data, our customers' data or our IT systems are accessed improperly, made unavailable, or improperly modified, our products and services may be perceived as vulnerable, our brand and reputation could be damaged, the IT services we provide to our customers could be disrupted, and customers may stop using our products and services, any of which could reduce our revenue and earnings, increase our expenses and expose us to legal claims and regulatory actions. (6) Our business practices with respect to data could give rise to operational interruption, liabilities or reputational harm as a result of governmental regulation, legal requirements or industry standards relating to privacy and data protection. (7) Economic, political and market conditions can adversely affect our business, results of operations and financial condition, including our revenue growth and profitability, which in turn could adversely affect our stock price. (8) If we are unable to compete effectively, the results of operations and prospects for our business could be harmed. (9) Our international sales and operations subject us to additional risks that can adversely affect our operating results. (10) We are susceptible to third-party manufacturing and logistics delays, which could result in the loss of sales and customers. 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 Corporation's Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on Oracle's Investor Relations website at www.oracle.com/investor/. All information set forth in this press release is current as of September 13, 2021. Oracle undertakes no duty to update any statement in light of new information or future events.
ORACLE CORPORATION | ||||||||
Q1 FISCAL 2022 FINANCIAL RESULTS | ||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
($ in millions, except per share data) | ||||||||
Three Months Ended August 31, | % Increase | |||||||
% Increase | (Decrease) | |||||||
% of | % of | (Decrease) | in Constant | |||||
2021 | Revenues | 2020 | Revenues | in US $ | Currency (1) | |||
REVENUES | ||||||||
Cloud services and license support | $ 7,371 | 76% | $ 6,947 | 74% | 6% | 5% | ||
Cloud license and on-premise license | 813 | 8% | 886 | 9% | (8%) | (9%) | ||
Hardware | 763 | 8% | 814 | 9% | (6%) | (7%) | ||
Services | 781 | 8% | 720 | 8% | 8% | 7% | ||
Total revenues | 9,728 | 100% | 9,367 | 100% | 4% | 2% | ||
OPERATING EXPENSES | ||||||||
Cloud services and license support | 1,214 | 13% | 1,011 | 11% | 20% | 19% | ||
Hardware | 245 | 2% | 246 | 2% | (1%) | (2%) | ||
Services | 644 | 7% | 623 | 7% | 3% | 2% | ||
Sales and marketing | 1,854 | 19% | 1,854 | 20% | 0% | (1%) | ||
Research and development | 1,684 | 18% | 1,589 | 17% | 6% | 5% | ||
General and administrative | 298 | 3% | 295 | 3% | 1% | 0% | ||
Amortization of intangible assets | 303 | 3% | 345 | 4% | (12%) | (12%) | ||
Acquisition related and other | 21 | 0% | 19 | 0% | 4% | 4% | ||
Restructuring | 38 | 0% | 174 | 2% | (78%) | (78%) | ||
Total operating expenses | 6,301 | 65% | 6,156 | 66% | 2% | 1% | ||
OPERATING INCOME | 3,427 | 35% | 3,211 | 34% | 7% | 5% | ||
Interest expense | (705) | (7%) | (614) | (6%) | 15% | 15% | ||
Non-operating expenses, net | (41) | (1%) | (2) | 0% | * | * | ||
INCOME BEFORE PROVISION FOR INCOME TAXES | 2,681 | 27% | 2,595 | 28% | 3% | 1% | ||
Provision for income taxes | 224 | 2% | 344 | 4% | (35%) | (36%) | ||
NET INCOME | $ 2,457 | 25% | $ 2,251 | 24% | 9% | 7% | ||
EARNINGS PER SHARE: | ||||||||
Basic | $ 0.89 | $ 0.74 | ||||||
Diluted | $ 0.86 | $ 0.72 | ||||||
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | ||||||||
Basic | 2,769 | 3,041 | ||||||
Diluted | 2,861 | 3,107 | ||||||
(1) | We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency | |||||||
* | Not meaningful | |||||||
ORACLE CORPORATION | ||||||||||||||||||||
Q1 FISCAL 2022 FINANCIAL RESULTS | ||||||||||||||||||||
RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) | ||||||||||||||||||||
($ in millions, except per share data) | ||||||||||||||||||||
Three Months Ended August 31, | % Increase (Decrease) | % Increase (Decrease) in | ||||||||||||||||||
2021 | 2021 | 2020 | 2020 | GAAP | Non-GAAP | GAAP | Non-GAAP | |||||||||||||
GAAP | Adj. | Non-GAAP | GAAP | Adj. | Non-GAAP | |||||||||||||||
TOTAL REVENUES | $ 9,728 | $ - | $ 9,728 | $ 9,367 | $ 1 | $ 9,368 | 4% | 4% | 2% | 2% | ||||||||||
Cloud services and license support | 7,371 | - | 7,371 | 6,947 | 1 | 6,948 | 6% | 6% | 5% | 5% | ||||||||||
TOTAL OPERATING EXPENSES | $ 6,301 | $ (907) | $ 5,394 | $ 6,156 | $ (966) | $ 5,190 | 2% | 4% | 1% | 3% | ||||||||||
Stock-based compensation (3) | 545 | (545) | - | 428 | (428) | - | 28% | * | 28% | * | ||||||||||
Amortization of intangible assets (4) | 303 | (303) | - | 345 | (345) | - | (12%) | * | (12%) | * | ||||||||||
Acquisition related and other | 21 | (21) | - | 19 | (19) | - | 4% | * | 4% | * | ||||||||||
Restructuring | 38 | (38) | - | 174 | (174) | - | (78%) | * | (78%) | * | ||||||||||
OPERATING INCOME | $ 3,427 | $ 907 | $ 4,334 | $ 3,211 | $ 967 | $ 4,178 | 7% | 4% | 5% | 2% | ||||||||||
OPERATING MARGIN % | 35% | 45% | 34% | 45% | 95 bp. | (5) bp. | 74 bp. | (18) bp. | ||||||||||||
INCOME TAX EFFECTS (5) | $ 224 | $ 420 | $ 644 | $ 344 | $ 336 | $ 680 | (35%) | (5%) | (36%) | (7%) | ||||||||||
NET INCOME | $ 2,457 | $ 487 | $ 2,944 | $ 2,251 | $ 631 | $ 2,882 | 9% | 2% | 7% | 0% | ||||||||||
DILUTED EARNINGS PER SHARE | $ 0.86 | $ 1.03 | $ 0.72 | $ 0.93 | 19% | 11% | 16% | 9% | ||||||||||||
DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | 2,861 | - | 2,861 | 3,107 | - | 3,107 | (8%) | (8%) | (8%) | (8%) | ||||||||||
(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, 2021, 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 | |||||||||||||||||||
August 31, 2021 | August 31, 2020 | |||||||||||||||||||
GAAP | Adj. | Non-GAAP | GAAP | Adj. | Non-GAAP | |||||||||||||||
Cloud services and license support | $ 40 | $ (40) | $ - | $ 30 | $ (30) | $ - | ||||||||||||||
Hardware | 3 | (3) | - | 3 | (3) | - | ||||||||||||||
Services | 14 | (14) | - | 12 | (12) | - | ||||||||||||||
Sales and marketing | 95 | (95) | - | 71 | (71) | - | ||||||||||||||
Research and development | 344 | (344) | - | 276 | (276) | - | ||||||||||||||
General and administrative | 49 | (49) | - | 36 | (36) | - | ||||||||||||||
Total stock-based compensation | $ 545 | $ (545) | $ - | $ 428 | $ (428) | $ - | ||||||||||||||
(4) | Estimated future annual amortization expense related to intangible assets as of August 31, 2021 was as follows: | |||||||||||||||||||
Remainder of fiscal 2022 | $ 834 | |||||||||||||||||||
Fiscal 2023 | 716 | |||||||||||||||||||
Fiscal 2024 | 473 | |||||||||||||||||||
Fiscal 2025 | 124 | |||||||||||||||||||
Fiscal 2026 | 24 | |||||||||||||||||||
Fiscal 2027 | 6 | |||||||||||||||||||
Thereafter | 4 | |||||||||||||||||||
Total intangible assets, net | $ 2,181 | |||||||||||||||||||
(5) | Income tax effects were calculated reflecting an effective GAAP tax rate of 8.4% and 13.3% in the first quarter of fiscal 2022 and 2021, respectively, and an effective non-GAAP tax rate of 18.0% and 19.1% in the first quarter of fiscal 2022 and 2021, respectively. The difference in our GAAP and non-GAAP tax rates in each of the first quarter of fiscal 2022 and 2021 was primarily due to the net tax effects on stock-based compensation expense and acquisition related items, including the tax effects of amortization of intangible assets, 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 | ||||||
Q1 FISCAL 2022 FINANCIAL RESULTS | ||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
($ in millions) | ||||||
August 31, | May 31, | |||||
2021 | 2021 | |||||
ASSETS | ||||||
Current Assets: | ||||||
Cash and cash equivalents | $ 23,059 | $ 30,098 | ||||
Marketable securities | 16,251 | 16,456 | ||||
Trade receivables, net | 4,482 | 5,409 | ||||
Prepaid expenses and other current assets | 3,325 | 3,604 | ||||
Total Current Assets | 47,117 | 55,567 | ||||
Non-Current Assets: | ||||||
Property, plant and equipment, net | 7,610 | 7,049 | ||||
Intangible assets, net | 2,181 | 2,430 | ||||
Goodwill, net | 43,862 | 43,935 | ||||
Deferred tax assets | 13,391 | 13,636 | ||||
Other non-current assets | 8,763 | 8,490 | ||||
Total Non-Current Assets | 75,807 | 75,540 | ||||
TOTAL ASSETS | $ 122,924 | $ 131,107 | ||||
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY | ||||||
Current Liabilities: | ||||||
Notes payable, current | $ 6,748 | $ 8,250 | ||||
Accounts payable | 749 | 745 | ||||
Accrued compensation and related benefits | 1,470 | 2,017 | ||||
Deferred revenues | 10,011 | 8,775 | ||||
Other current liabilities | 4,093 | 4,377 | ||||
Total Current Liabilities | 23,071 | 24,164 | ||||
Non-Current Liabilities: | ||||||
Notes payable and other borrowings, non-current | 75,970 | 75,995 | ||||
Income taxes payable | 12,315 | 12,345 | ||||
Deferred tax liabilities | 7,648 | 7,864 | ||||
Other non-current liabilities | 5,050 | 4,787 | ||||
Total Non-Current Liabilities | 100,983 | 100,991 | ||||
Stockholders' (Deficit) Equity | (1,130) | 5,952 | ||||
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY | $ 122,924 | $ 131,107 | ||||
ORACLE CORPORATION | |||||
Q1 FISCAL 2022 FINANCIAL RESULTS | |||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||
($ in millions) | |||||
Three Months Ended August 31, | |||||
2021 | 2020 | ||||
Cash Flows From Operating Activities: | |||||
Net income | $ 2,457 | $ 2,251 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Depreciation | 454 | 356 | |||
Amortization of intangible assets | 303 | 345 | |||
Deferred income taxes | (15) | 173 | |||
Stock-based compensation | 545 | 428 | |||
Other, net | (27) | 78 | |||
Changes in operating assets and liabilities, net of effects from acquisitions: | |||||
Decrease in trade receivables, net | 852 | 1,077 | |||
Decrease in prepaid expenses and other assets | 270 | 380 | |||
Decrease in accounts payable and other liabilities | (713) | (294) | |||
Decrease in income taxes payable | (221) | (586) | |||
Increase in deferred revenues | 1,486 | 1,745 | |||
Net cash provided by operating activities | 5,391 | 5,953 | |||
Cash Flows From Investing Activities: | |||||
Purchases of marketable securities and other investments | (7,671) | (10,678) | |||
Proceeds from sales and maturities of marketable securities and other investments | 8,002 | 1,459 | |||
Acquisitions, net of cash acquired | (50) | - | |||
Capital expenditures | (1,062) | (436) | |||
Net cash used for investing activities | (781) | (9,655) | |||
Cash Flows From Financing Activities: | |||||
Payments for repurchases of common stock | (7,995) | (4,945) | |||
Proceeds from issuances of common stock | 148 | 567 | |||
Shares repurchased for tax withholdings upon vesting of restricted stock-based awards | (820) | (478) | |||
Payments of dividends to stockholders | (887) | (730) | |||
Repayments of borrowings | (1,500) | (1,000) | |||
Other, net | (414) | 93 | |||
Net cash used for financing activities | (11,468) | (6,493) | |||
Effect of exchange rate changes on cash and cash equivalents | (181) | 232 | |||
Net decrease in cash and cash equivalents | (7,039) | (9,963) | |||
Cash and cash equivalents at beginning of period | 30,098 | 37,239 | |||
Cash and cash equivalents at end of period | $ 23,059 | $ 27,276 | |||
ORACLE CORPORATION | ||||||||||
Q1 FISCAL 2022 FINANCIAL RESULTS | ||||||||||
FREE CASH FLOW - TRAILING 4-QUARTERS (1) | ||||||||||
($ in millions) | ||||||||||
Fiscal 2021 | Fiscal 2022 | |||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | |||
GAAP Operating Cash Flow | $ 13,092 | $ 13,967 | $ 14,659 | $ 15,887 | $ 15,325 | |||||
Capital Expenditures | (1,614) | (1,833) | (1,851) | (2,135) | (2,761) | |||||
Free Cash Flow | $ 11,478 | $ 12,134 | $ 12,808 | $ 13,752 | $ 12,564 | |||||
% Growth over prior year | (6%) | (1%) | 3% | 19% | 9% | |||||
GAAP Net Income | $ 10,249 | $ 10,380 | $ 12,830 | $ 13,746 | $ 13,952 | |||||
Free Cash Flow as a % of Net Income | 112% | 117% | 100% | 100% | 90% | |||||
(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 | |||||||||
ORACLE CORPORATION | ||||||||||||||
Q1 FISCAL 2022 FINANCIAL RESULTS | ||||||||||||||
SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1) | ||||||||||||||
($ in millions) | ||||||||||||||
Fiscal 2021 | Fiscal 2022 | |||||||||||||
Q1 | Q2 | Q3 | Q4 | TOTAL | Q1 | Q2 | Q3 | Q4 | TOTAL | |||||
REVENUES BY OFFERINGS | ||||||||||||||
Cloud services and license support | $ 6,947 | $ 7,112 | $ 7,252 | $ 7,389 | $ 28,700 | $ 7,371 | $ 7,371 | |||||||
Cloud license and on-premise license | 886 | 1,092 | 1,276 | 2,144 | 5,399 | 813 | 813 | |||||||
Hardware | 814 | 844 | 820 | 882 | 3,359 | 763 | 763 | |||||||
Services | 720 | 752 | 737 | 812 | 3,021 | 781 | 781 | |||||||
Total revenues | $ 9,367 | $ 9,800 | $ 10,085 | $ 11,227 | $ 40,479 | $ 9,728 | $ 9,728 | |||||||
AS REPORTED REVENUE GROWTH RATES | ||||||||||||||
Cloud services and license support | 2% | 4% | 5% | 8% | 5% | 6% | 6% | |||||||
Cloud license and on-premise license | 9% | (3%) | 4% | 9% | 5% | (8%) | (8%) | |||||||
Hardware | 0% | (3%) | (4%) | (2%) | (2%) | (6%) | (6%) | |||||||
Services | (8%) | (7%) | (5%) | 11% | (3%) | 8% | 8% | |||||||
Total revenues | 2% | 2% | 3% | 8% | 4% | 4% | 4% | |||||||
CONSTANT CURRENCY REVENUE GROWTH RATES (2) | ||||||||||||||
Cloud services and license support | 2% | 4% | 2% | 4% | 3% | 5% | 5% | |||||||
Cloud license and on-premise license | 8% | (5%) | 0% | 5% | 2% | (9%) | (9%) | |||||||
Hardware | 0% | (3%) | (6%) | (6%) | (4%) | (7%) | (7%) | |||||||
Services | (8%) | (8%) | (8%) | 6% | (5%) | 7% | 7% | |||||||
Total revenues | 2% | 1% | 0% | 4% | 2% | 2% | 2% | |||||||
CLOUD SERVICES AND LICENSE SUPPORT REVENUES | ||||||||||||||
BY ECOSYSTEM | ||||||||||||||
Applications cloud services and license support | $ 2,816 | $ 2,901 | $ 2,952 | $ 3,043 | $ 11,712 | $ 3,041 | $ 3,041 | |||||||
Infrastructure cloud services and license support | 4,131 | 4,211 | 4,300 | 4,346 | 16,988 | 4,330 | 4,330 | |||||||
Total cloud services and license support revenues | $ 6,947 | $ 7,112 | $ 7,252 | $ 7,389 | $ 28,700 | $ 7,371 | $ 7,371 | |||||||
AS REPORTED REVENUE GROWTH RATES | ||||||||||||||
Applications cloud services and license support | 4% | 5% | 5% | 11% | 6% | 8% | 8% | |||||||
Infrastructure cloud services and license support | 1% | 4% | 4% | 6% | 4% | 5% | 5% | |||||||
Total cloud services and license support revenues | 2% | 4% | 5% | 8% | 5% | 6% | 6% | |||||||
CONSTANT CURRENCY REVENUE GROWTH RATES (2) | ||||||||||||||
Applications cloud services and license support | 4% | 5% | 3% | 7% | 5% | 7% | 7% | |||||||
Infrastructure cloud services and license support | 1% | 3% | 2% | 2% | 2% | 3% | 3% | |||||||
Total cloud services and license support revenues | 2% | 4% | 2% | 4% | 3% | 5% | 5% | |||||||
GEOGRAPHIC REVENUES | ||||||||||||||
Americas | $ 5,068 | $ 5,259 | $ 5,424 | $ 6,076 | $ 21,828 | $ 5,321 | $ 5,321 | |||||||
Europe/Middle East/Africa | 2,738 | 2,852 | 2,981 | 3,324 | 11,894 | 2,784 | 2,784 | |||||||
Asia Pacific | 1,561 | 1,689 | 1,680 | 1,827 | 6,757 | 1,623 | 1,623 | |||||||
Total revenues | $ 9,367 | $ 9,800 | $ 10,085 | $ 11,227 | $ 40,479 | $ 9,728 | $ 9,728 | |||||||
(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, 2021 and 2020 for the fiscal 2022 and fiscal 2021 constant currency growth rate calculations presented, respectively, rather than the actual exchange rates in effect during the respective periods. | |||||||||||||
APPENDIX A |
ORACLE CORPORATION |
Q1 FISCAL 2022 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: |
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SOURCE Oracle
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Analysen zu Oracle Corp.mehr Analysen
10.12.24 | Oracle Hold | Joh. Berenberg, Gossler & Co. KG (Berenberg Bank) | |
10.12.24 | Oracle Sector Perform | RBC Capital Markets | |
10.12.24 | Oracle Neutral | JP Morgan Chase & Co. | |
10.12.24 | Oracle Buy | UBS AG | |
10.12.24 | Oracle Buy | Jefferies & Company Inc. |
Aktien in diesem Artikel
Oracle Corp. | 163,32 | -0,09% |
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