Oracle has posted a positive set of results for the third quarter, helped by larger cloud sales of its software and services.
Total quarterly revenues were up 3% year-over-year to $10.1bn. Cloud services and license support revenues were up 5% to $7.3bn. Cloud license and on-premise license revenues were up 4% to $1.3bn.
Q3 GAAP operating income was up 10% to $3.9bn and the GAAP operating margin was 38%. GAAP net income was up 95% to $5bn and GAAP earnings per share was up 113% to $1.68. The GAAP income statement was impacted by a one-time net tax benefit totalling $2.3bn related to the transfer of certain assets between subsidiaries.
"We continued to extend our huge lead in the cloud ERP market as Fusion ERP grew 30% and NetSuite ERP grew 24% in Q3," said Oracle CEO Safra Catz. “Subscription revenue now accounts for 72% of Oracle's total revenues.”
Oracle chairman and CTO Larry Ellison (pictured) added: “In Q3 Oracle's Gen2 Cloud Infrastructure business added customers, and grew revenue at a rate in excess of 100%. We are opening new [data centre] regions as fast as we can to support our rapidly growing multi-billion dollar infrastructure business.”
The quarterly cash dividend was increased 33% to $0.32 per share.
