- Oracle’s total sales rose 18% year-over-year to $12.40 billion during its latest quarter.
- Its operating income during the quarter was $3.3 billion, an 18% decline from the $2.3 billion reported during the third quarter last year.
Safra Catz, CEO of Oracle and then one of Oracle’s two co-CEOs, smiles during Oracle’s OpenWorld conference on September 20, 2016 in San Francisco.
David Paul Morris | Bloomberg | Getty Images
Oracle shares fell nearly 5% after the enterprise tech giant reported financial results for its fiscal third quarter 2023.
Here’s how the company did:
- Earning: $1.22 per share, adjusted, versus the $1.20 per share expected by analysts, according to Refinitiv.
- Income: $12.40 billion versus $12.42 billion as analysts were expecting, according to Refinitiv.
Oracle’s total sales increased 18% year-over-year during its latest quarter.
For the third quarter ended February 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, which topped analyst estimates of $1.20 per share.
Its operating income during the quarter was $3.3 billion, an 18% decline from the $2.3 billion reported during the third quarter last year.
Oracle’s total operating expenses rose 37% year-over-year to $9.2 billion.
“Oracle’s non-GAAP earnings per share growth hit the high end of our guidance — 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 missed on the top line