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Feb 29, 2024
Oracle Q3 2024 Earnings Report
Oracle's Q3 2024 financial results were announced, with revenue up 7% and non-GAAP EPS increasing by 16%.
Key Takeaways
Oracle announced its Q3 Fiscal Year 2024 results, revealing a 7% increase in total revenue, reaching $13.3 billion. Cloud revenue, encompassing IaaS and SaaS, grew by 25% to $5.1 billion. The company's total Remaining Performance Obligations increased by 29% to $80 billion.
GAAP earnings per share was $0.85, while non-GAAP earnings per share increased by 16% to $1.41.
Total revenue reached $13.3 billion, marking a 7% increase.
Total Remaining Performance Obligations rose by 29% to $80 billion.
Cloud revenue (IaaS plus SaaS) grew by 25% to $5.1 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Oracle anticipates continued strong demand for its Gen2 AI infrastructure, with substantial contracts expected to drive future revenue growth. The company is focused on expanding its cloud datacenter capacity to meet this demand and expects its Gen2 Cloud Infrastructure business to maintain a hypergrowth phase.
Positive Outlook
- Expects to continue receiving large contracts reserving cloud infrastructure capacity.
- Demand for Gen2 AI infrastructure substantially exceeds supply.
- Opening new and expanding existing cloud datacenters rapidly.
- 43% of current $80 billion RPO will be recognized as revenue over the next four quarters.
- Gen2 Cloud Infrastructure business will remain in a hypergrowth phase.
Challenges Ahead
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Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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