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Aug 31, 2022
Oracle Q1 2023 Earnings Report
Oracle's Q1 2023 financial results were announced, with revenue up 18% in USD and 23% in constant currency, driven by cloud growth and the addition of Cerner.
Key Takeaways
Oracle's Q1 2023 results showed strong revenue growth, driven by its cloud business and the recent acquisition of Cerner. Total revenue reached $11.4 billion, up 18% in USD and 23% in constant currency. Cloud revenue grew significantly, and the company expects continued growth in cloud and earnings per share.
Total revenue grew 18% in USD and 23% in constant currency, reaching $11.4 billion.
Cloud revenue (IaaS plus SaaS) increased by 45% in USD and 50% in constant currency, totaling $3.6 billion.
GAAP earnings per share was $0.56, while non-GAAP earnings per share was $1.03.
Cerner contributed $1.4 billion to total revenues and is expected to positively impact future growth.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Oracle anticipates continued revenue and EPS growth, driven by its cloud businesses and the integration of Cerner. The company expects its constant currency organic revenue growth rate to hit double-digits and Cerner to positively impact revenue and EPS growth.
Positive Outlook
- Expects constant currency organic revenue growth rate to hit double-digits.
- Cerner will positively impact revenue and earnings per share growth.
- Developing an all-new suite of healthcare cloud services.
- Expanded relationship with Microsoft by providing all versions of the Oracle database directly to Microsoft Azure customers.
- Amazon Web Services customers can directly access Oracle’s MySQL HeatWave database running in the Amazon Cloud.
Challenges Ahead
- The strengthening of the U.S. dollar compared to foreign currencies had a significant impact on results in the quarter.
- GAAP operating income was down 23% in USD and down 17% in constant currency.
- GAAP net income was down 37% in USD and 29% in constant currency.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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