Oracle Corporation (NYSE:ORCL) reported stronger-than-expected results for its fourth quarter.
Total quarterly revenues for the Redwood Shores, Calif.-based company were $11.1 billion, up 1% in U.S. dollars and up 4% in constant currency compared to Q4 last year.
Cloud services and licenses revenues were $6.8 billion, while Cloud License and On-Premise License revenues were $2.5 billion. Total cloud services and license support plus Cloud license and on-premise license revenues were $9.3 billion, up 3% in U.S. dollars and 6% in constant currency.
Q4 GAAP operating income was up 2% to $4.3 billion and GAAP operating margin was 38%. Non-GAAP operating income was up 4% to $5.3 billion and non-GAAP operating margin was 47%. GAAP net income was up 14% to $3.7 billion and non-GAAP net income was up 3% to $4.1 billion. GAAP Earnings per Share was $1.07, while non-GAAP Earnings Per Share was $1.16.
Short-term deferred revenues were $8.4 billion. Operating cash flow for fiscal 2019 was $14.6 billion.
According to CEO Safra Catz ,"In Q4, our non-GAAP operating income grew 7% in constant currency—which drove EPS well above the high end of my guidance.
"Our high-margin Fusion and NetSuite cloud applications businesses are growing rapidly, while we downsize our low-margin legacy hardware business. The net result of this shift away from commodity hardware to cloud applications was a Q4 non-GAAP operating margin of 47%, the highest we've seen in five years."
Shares in Oracle gained $3.69, or 7%, to $56.30
