Oracle (NYSE:ORCL) shares dropped after revenue for its latest quarter missed analysts’ expectations. Oracle posted $12.4 billion, compared with Wall Street’s estimates of $12.42 billion, according to Refinitiv.
Total quarterly revenues were up 18% year-over-year in USD and up 21% in constant currency to $12.4 billion. Cloud services and license
support revenues were up 17% in USD and up 20% in constant currency to $8.9 billion. Cloud license and on-premise license revenues were unchanged in USD and up 4% in constant currency to $1.3 billion. For the third quarter of fiscal 2023, Cerner contributed $1.5 billion to total revenues.
Q3 GAAP operating income was $3.3 billion. Non-GAAP operating income was $5.2 billion, up 8% in USD and up 11% in constant currency. GAAP operating margin was 26%, and non-GAAP operating margin was 42%. GAAP net income was $1.9 billion , and non-GAAP net income was $3.4 billion .
Q3 GAAP earnings per share was $0.68 while non-GAAP earnings per share was $1.22. Thursday’s news release says, without the impact of the U.S. dollar strengthening compared to foreign currencies, Oracle's reported Q3 non-GAAP earnings per share would have been five cents higher.
Short-term deferred revenues were $8.6 billion. Operating cash flow was $15.5 billion during the trailing 12 months.
ORCL shares stumbled $3.45, or 4%, to $83.42.
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