Oracle Corporation announced fiscal 2022 Q1 results. In the first quarter, the company’s total quarterly revenues were up 4% year-over-year to $9.7 billion.
4% year-over-year increase to $9.7 billion
Oracle stated that cloud services and license support revenues were increased by 6% to $7.4 billion. However, cloud license and on-premise license revenues were down 8% to $813 million. Short-term deferred revenues were $10 billion. Operating cash flow was up 17% to $15.3 billion during the trailing twelve months.
GAAP operating income was increased by 7% to $3.4 billion, and GAAP operating margin was 35%. Non-GAAP operating income was increased by 4% to $4.3 billion, and the Non-GAAP operating margin was 45%. GAAP net income was up 9% to $2.5 billion, and GAAP earnings per share was increased by 19% to $0.86. Non-GAAP net income was increased by 2% to $2.9 billion, and Non-GAAP earnings per share was increased by 11% to $1.03.
Safra Catz, CEO of Oracle said,
“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. 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.”