Oracle Q1 Earnings Recap: Larry Ellison Highlights AI's Bright Future
Portfolio Pulse from Chris Katje
Oracle Corp (NASDAQ:ORCL) reported Q1 revenue of $12.45 billion, up 9% YoY, beating the Street consensus estimate. Adjusted earnings per share were $1.19, also beating estimates. Cloud revenue was $4.6 billion, up 30% YoY, with Cloud Application revenue at $3.1 billion (up 17% YoY) and Cloud Infrastructure revenue at $1.5 billion (up 66% YoY). Free cash flow was $5.7 billion, up 21% YoY. Oracle Cloud Services and License Support revenue now make up 77% of the company’s total revenue.
September 11, 2023 | 8:25 pm
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Oracle's Q1 results beat estimates, with significant growth in cloud revenue. However, the stock price fell 4.81% in after-hours trading.
Oracle's strong Q1 results, particularly in cloud revenue, indicate a positive financial performance. However, despite these results, the company's stock price fell in after-hours trading, suggesting that the market may have had different expectations.
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RELEVANCE 100