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Nov 30, 2023
Oracle Q2 2024 Earnings Report
Oracle's Q2 2024 financial results were announced, revealing a 5% increase in total revenue and growth in cloud services.
Key Takeaways
Oracle announced its Q2 Fiscal Year 2024 results, with total revenue reaching $12.9 billion, a 5% increase year-over-year. Cloud services and license support revenues grew by 12% to $9.6 billion. GAAP earnings per share was $0.89, and non-GAAP earnings per share was $1.34.
GAAP earnings per share was $0.89, while non-GAAP earnings per share was $1.34.
Total revenue reached $12.9 billion, marking a 5% increase in USD.
Total Remaining Performance Obligations exceeded $65 billion.
Cloud revenue (IaaS plus SaaS) amounted to $4.8 billion, a 25% increase in USD.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Oracle is expanding its cloud datacenters and building new ones to meet the increasing demand for its Cloud Infrastructure and Generative AI services. They are also turning on new Oracle cloud datacenters collocated with Microsoft Azure.
Positive Outlook
- Demand for Cloud Infrastructure and Generative AI services is increasing rapidly.
- Total Remaining Performance Obligations (RPO) climbed to over $65 billion.
- Cloud businesses are approaching a $20 billion annual revenue run rate.
- Oracle is expanding 66 existing cloud datacenters.
- Oracle is building 100 new cloud datacenters.
Challenges Ahead
- Statements in this press release relating to future demand for specific products are forward-looking statements and are subject to material risks and uncertainties.
- Risks include the ability to develop new products and services.
- Risks include the management of complex cloud and hardware offerings.
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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