Oracle Corporation (NYSE: ORCL) today announced fiscal 2022 second quarter results. Total quarterly revenue increased 6% from the prior year, reaching $ 10.4 trillion. Revenue from cloud services and license support increased 6% to $ 7.6 trillion. On-premises and cloud license revenue increased 13% to $ 1.2 trillion.
Oracle’s second-quarter GAAP results were negatively impacted by the payment of a judgment related to a ten-year-old dispute over the employment of former CEO Mark Hurd. That payment resulted in a second quarter GAAP operating loss of $ 824 million and a loss per share of $ 0.46. Second quarter non-GAAP operating income increased 6% to $ 4.9 trillion and earnings per share increased 14% to $ 1.21.
Short-term deferred revenue was $ 7.9 trillion. Operating cash flow was USD $ 10.3 trillion during the last twelve months.
“Oracle’s non-GAAP second quarter earnings per share increased 14% to $ 1.21, beating forecasts by $ 0.10,” said Zafra Cats, Oracle CEO. “The constant currency earnings exceeded the forecast by $ 200 million. These strong results are driven by 22% growth in our cloud infrastructure and applications businesses, which are approaching US $ 11 trillion in annual revenue. We now have 8,500 Fusion ERP customers with revenue growing 35%, 28,400 NetSuite ERP customers with revenue growing 29%, and our Gen2 infrastructure businesses are growing even faster and accelerating. ”
“Oracle’s autonomous database and the new MySQL database with HeatWave are the two highest-performing databases in the world,” said Oracle President and CTO Larry Ellison. “Due to their high performance, both products present tremendous growth opportunities for our cloud infrastructure business. Oracle onpremise database customers are choosing our autonomous database when moving to the public cloud and our exclusive Cloud @ Customer service. Amazon Aurora customers are finding that switching to MySQL with HeatWave can increase their performance by more than tenfold, with a corresponding reduction in cost. These two databases will maintain Oracle’s market and technology leadership for years to come. ”
The board of directors increased the authorization for the repurchase of shares by USD $ 10 billion. The board of directors also declared a quarterly cash dividend of $ 0.32 per share of outstanding common stock. This dividend will be paid to shareholders of record at the close of operations on January 7, 2022, with payment date on January 19, 2022.