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Oracle | 8-K: Oracle Announces Fiscal 2024 Fourth Quarter and Fiscal Full Year Financial Results

SEC announcement ·  Jun 12 04:19
Summary by Futu AI
On June 11, 2024, Oracle Corporation released its financial results for the fiscal fourth quarter ending May 31, 2024. The report highlighted a 3% increase in total quarterly revenues to $14.3 billion, with cloud revenue showing significant growth. Cloud services and license support revenues rose by 9%, while cloud license and on-premise license revenues saw a 15% decline. Oracle's GAAP operating income for the quarter was $4.7 billion, with a non-GAAP operating income of $6.7 billion, indicating an 8% increase in USD. The company's GAAP net income was reported at $3.1 billion, with non-GAAP net income at $4.6 billion. Earnings per share on a GAAP basis were $1.11, and $1.63 on a non-GAAP basis. Oracle's Board of Directors also declared a cash dividend of $0.40 per share, payable on...Show More
On June 11, 2024, Oracle Corporation released its financial results for the fiscal fourth quarter ending May 31, 2024. The report highlighted a 3% increase in total quarterly revenues to $14.3 billion, with cloud revenue showing significant growth. Cloud services and license support revenues rose by 9%, while cloud license and on-premise license revenues saw a 15% decline. Oracle's GAAP operating income for the quarter was $4.7 billion, with a non-GAAP operating income of $6.7 billion, indicating an 8% increase in USD. The company's GAAP net income was reported at $3.1 billion, with non-GAAP net income at $4.6 billion. Earnings per share on a GAAP basis were $1.11, and $1.63 on a non-GAAP basis. Oracle's Board of Directors also declared a cash dividend of $0.40 per share, payable on July 25, 2024, to shareholders of record as of July 11, 2024. The company's CEO, Safra Catz, attributed the strong performance to significant contracts for training AI large language models in the Oracle Cloud. Oracle's Chairman and CTO, Larry Ellison, discussed the expansion of multicloud cooperation with Microsoft and the interconnection agreement with Google, which is expected to boost cloud database growth. The full-year fiscal 2024 results showed a 6% increase in total revenues to $53.0 billion, with cloud services and license support revenues up by 12%. The company's operating cash flow for the fiscal year was $18.7 billion, a 9% increase in USD.

This announcement is a separate document:

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