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* Total revenue of $10.5 billion, up 4% and 7% in constant currency
* Total cloud revenue (IaaS plus SaaS) of $2.8 billion, up 24% and 26% in constant currency
* Fusion ERP Cloud revenue up 33% and 35% constant currency
* NetSuite ERP Cloud revenue up 27% and up 29% at constant currency
Oracle Corporation (NYSE: ORCL) announced results for the third quarter of fiscal 2022. Total quarterly revenue increased 4% year over year in USD and 7% in constant currency to 10 .5 billion dollars. Cloud services and license support revenue increased 5% in USD and 8% in constant currency to $7.6 billion. Cloud licensing and on-premises licensing revenue increased 1% in USD and 4% in constant currency to $1.3 billion.
Q3 GAAP operating income was $3.8 billion, down 1% in USD and up 3% in constant currency. Non-GAAP operating income was $4.8 billion, up 1% in USD and 4% in constant currency. GAAP operating margin was 36% and non-GAAP operating margin was 46%. GAAP net income was $2.3 billion and non-GAAP net income was $3.1 billion.
Q3 GAAP earnings per share were $0.84 while non-GAAP earnings per share were $1.13, down 3% in USD and up 1% in constant currency. Earnings per share for the third quarter were reduced by $0.05, primarily due to a decline in the share price of breakthrough gene sequencing company Oxford Nanopore and an operating loss at Ampere, the maker of the world’s fastest ARM server chips. We remain confident that our investments in these two leading technology companies will generate very good returns for Oracle.
Short-term deferred revenue was $7.9 billion. Operating cash flow was $10.4 billion in the trailing twelve months.
“In the third quarter, Oracle delivered constant currency revenue growth of more than 7%, our highest quarterly organic growth rate since we began our journey to the cloud,” said Safra Catz, CEO of Oracle. . “This strong revenue growth has been accompanied by strong non-GAAP constant currency operating income growth of 4%, but the big issue is that our overall revenue growth is being dragged both through our rapidly growing cloud infrastructure and cloud applications businesses. Third-quarter cloud infrastructure revenue increased 47% at constant currency. Third-quarter cloud application growth was driven by Fusion ERP, which grew 35% in constant currency, and NetSuite ERP, which grew 29% in constant currency. Total cloud revenue, which includes cloud infrastructure and cloud applications, now exceeds $11 billion annually.
“In the third quarter, Oracle completed development of the multi-cloud version of our open source MySQL HeatWave database,” said Oracle President and CTO Larry Ellison. “The MySQL HeatWave database is already running in Oracle Gen2 Cloud. In a few weeks, MySQL HeatWave will also be available in the Amazon Cloud and the Microsoft Azure Cloud. MySQL HeatWave was designed to compete with Amazon’s version of MySQL called Aurora, Snowflake, and other popular cloud databases. What customers and database analysts are saying about Oracle’s new MySQL HeatWave database is nothing short of amazing. Here are some examples of what database analysts are saying. »
“Oracle has shown AWS, Snowflake, and other database vendors how to design and engineer a true MySQL Cloud Database. Customers can expect MySQL HeatWave to run approximately 7x faster than Amazon Redshift or Snowflake at 2x to 5x lower cost The benefits over Amazon Aurora are even greater.
The following is an approved quote from Wikibon database analysts:
“We believe the technology behind MySQL HeatWave is an inflection point in database design and architecture. MySQL HeatWave technology is by far the best on the market today, and we believe that MySQL HeatWave’s competitive advantage will last for at least three years. We also believe customers will demand that AWS provide converged functionality similar to HeatWave.
The Board of Directors declared a quarterly cash dividend of $0.32 per outstanding common share. This dividend will be paid to shareholders of record at the close of business on April 8, 2022, with a payment date set for April 21, 2022.