- Oracle’s total revenue increased 18% year over year in the last quarter to $12.40 billion.
- Operating income was $3.3 billion during the quarter, down 18% from last year’s $2.3 billion during the third quarter.
Safra Catz, CEO of Oracle and then one of Oracle’s two co-CEOs, smiles at Oracle’s OpenWorld conference in San Francisco on Sept. 20, 2016.
David Paul Morris | Bloomberg | Getty Images
Shares of Oracle fell nearly 5% after the enterprise tech giant reported its financial results for the fiscal third quarter of 2023.
Here’s how the company did it:
- merits: $1.22 per share, adjusted, versus $1.20 per share as analysts expect, according to Refinitiv.
- Gain: $12.40 billion versus $12.42 billion as expected by analysts, according to Refinitiv.
Oracle’s total revenue increased 18% year-over-year during the last quarter.
For the third quarter ended Feb. 28, net income fell to $1.90 billion, or 68 cents per share, from $2.32 billion, or 84 cents per share, a year earlier. On an adjusted basis, Oracle earned $1.22 per share, better than analyst estimates of $1.20 per share.
Operating income was $3.3 billion during the quarter, down 18% from last year’s $2.3 billion during the third quarter.
Oracle’s total operating expenses increased 37% year over year to $9.2 billion.
“Oracle’s non-GAAP earnings per share growth reached the high end of our expectation — up 13% in constant currency to $1.22,” Oracle CEO Safra Catz said in a statement. “Our strong quarterly earnings growth was driven by 48% constant currency growth for total revenue from our two cloud businesses, infrastructure and applications.”
Watch: Oracle is missing on the top line