Oracle Corporation (NYSE:ORCL) posted mixed results in Q1

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Oracle Corporation (NYSE:ORCL) stock fell 3.42% (As on Sep 14, 10:07:07 AM UTC-4, Source: Google Finance) after the company posted mixed results for the first quarter of FY 22. Total cloud services and license support revenues for the first quarter were $7.4 billion, up 6% in USD, up 5% in constant currency and accounted for 76% of total company revenue. Total cloud revenues are now at an annualized revenue of $10 billion with an accelerating growth rate that we expect will exit the fiscal year in the mid-20s. GAAP application subscription revenues were $3 billion, up 7% with Fusion apps up 26% in USD and 24% in constant currency. The strategic back-office applications grew 25% in constant currency, including Fusion ERP up 30% and NetSuite ERP up 26%. GAAP infrastructure subscription revenues were $4.3 billion, up 3%. And excluding legacy hosting services, infrastructure cloud services grew in the mid-30s, and the company posted triple-digit booking growth in the first quarter.

Moreover, OCI consumption revenue, which includes Autonomous Database, was up 80% in constant currency and Cloud at Customer revenue rose up 44%. Database subscription revenues, including database support and database cloud services, were up 6% in USD, up 5% in constant currency and that’s up from 4% last quarter. License revenues were $813 million, which is down 8% compared from last year’s Q1.

ORCL in the first quarter of FY 22 has reported the adjusted earnings per share of $1.03, beating the analysts’ estimates for the adjusted earnings per share of 97 cents, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 4 percent to $9.73 billion in the first quarter of FY 22, missing the analysts’ estimates for revenue of $9.77 billion. The company posted the gross profit dollars growth of 2%. The company delivered Non-GAAP operating income of $4.3 billion, up 2% from last year with the operating margin of 45%.

Additionally, the company generated operating cash flow for the last four quarters of $15.3 billion, up 17% in USD. And the company generated free cash flow over the same period was $12.6 billion, up 9% in USD with capital expenditures of $2.8 billion, also over the same period. Capex for Q1 alone was $1.1 billion. The company now has more than $39 billion in cash and marketable securities.

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