Oracle Corporation (NYSE: ORCL) today announced fiscal 2018 Q1 results. Total Revenues were up 7% from the prior year to $9.2 billion. Cloud plus On-Premise Software Revenues were up 9% to $7.4 billion. Cloud Software as a Service (SaaS) revenues were up 62% to $1.1 billion. Cloud Platform as a Service (PaaS) plus Infrastructure as a Service (IaaS) revenues were up 28% to $400 million. Total Cloud Revenues were up 51% to $1.5 billion.
GAAP Operating Income was up 7% to $2.8 billion and Operating Margin was 31%. Non-GAAP Operating Income was up 11% to $3.8 billion and non-GAAP Operating Margin was 41%. GAAP Net Income was up 21% to $2.2 billion, while non-GAAP Net Income was up 14% to $2.7 billion. GAAP Earnings Per Share was up 19% to $0.52, while non-GAAP Earnings Per Share was up 12% to $0.62.
Short-term deferred revenues were up 9% compared with a year ago to $10.3 billion. Operating cash flow on a trailing twelve-month basis was up 8% to $14.8 billion.
“The sustained hyper-growth in our multi-billion dollar cloud business continues to drive Oracle’s overall revenue and earnings higher and higher,” said Oracle CEO, Safra Catz. “In Q1, total revenues were up 7%, GAAP EPS was up 19%, and non-GAAP EPS was up 12%. Oracle is off to a very, very strong start in FY18.”
“With SaaS revenue up 62%, our cloud applications business continues to grow more than twice as fast as Salesforce.com,” said Oracle CEO, Mark Hurd. “ERP is our largest and most important cloud applications business. We now have about 5,000 Fusion ERP customers plus 12,000 NetSuite ERP customers in the Oracle Cloud. That’s 30 times more ERP customers than Workday.”
“In a couple of weeks, we will announce the world’s first fully autonomous database cloud service,” said Oracle Chairman and CTO, Larry Ellison. “Based on machine learning, the latest version of Oracle is a totally automated “self-driving” system that does not require human beings to manage or tune the database. Using AI to eliminate most sources of human error enables Oracle to offer database SLA’s that guarantee 99.995% reliability while charging much less than AWS.”
The Board of Directors also declared a quarterly cash dividend of $0.19 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on October 11, 2017, with a payment date of October 25, 2017.
Q1 Fiscal 2018 Earnings Conference Call and Webcast
Oracle will hold a conference call and webcast today to discuss these results at 2:00 p.m. Pacific. You may listen to the call by dialing (816) 287-5563, Passcode: 425392. To access the live webcast, please visit the Oracle Investor Relations website at http://www.oracle.com/investor. In addition, Oracle’s Q1 results and Fiscal 2018 financial tables are available on the Oracle Investor Relations website.
A replay of the conference call will also be available by dialing (855) 859-2056 or (404) 537-3406, Passcode: 82330974.