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Oracle Announces Fiscal 2024 Fourth Quarter and Fiscal Full Year Financial Results

Published

11 months ago

on

Q4 Total Remaining Performance Obligations up 44% to $98 billionQ4 GAAP Earnings per Share $1.11, Non-GAAP Earnings per Share $1.63Q4 Total Revenue $14.3 billion, up 3% in USD, up 4% in constant currency Q4 Cloud Revenue (IaaS plus SaaS) $5.3 billion, up 20% in USD and constant currencyQ4 Cloud Infrastructure (IaaS) Revenue $2.0 billion, up 42% in USD and constant currency Q4 Cloud Application (SaaS) Revenue $3.3 billion, up 10% in USD and constant currencyQ4 Fusion Cloud ERP (SaaS) Revenue $0.8 billion, up 14% in USD and constant currencyQ4 NetSuite Cloud ERP (SaaS) Revenue $0.8 billion, up 19% in USD and constant currencyFY 2024 Total Revenue $53.0 billion, up 6% in USD and constant currency

AUSTIN, Texas, June 11, 2024 /PRNewswire/ — Oracle Corporation (NYSE: ORCL) today announced fiscal 2024 Q4 and full-year 2024 results. Total quarterly revenues were up 3% year-over-year in USD and up 4% in constant currency to $14.3 billion. Cloud services and license support revenues were up 9% in USD and up 10% in constant currency to $10.2 billion. Cloud license and on-premise license revenues were down 15% in USD and down 14% in constant currency to $1.8 billion. 

Q4 GAAP operating income was $4.7 billion. Non-GAAP operating income was $6.7 billion, up 8% in USD and up 9% in constant currency. GAAP operating margin was 33%, and non-GAAP operating margin was 47%. GAAP net income was $3.1 billion, and non-GAAP net income was $4.6 billion. Q4 GAAP earnings per share was $1.11 while non-GAAP earnings per share was $1.63.

Short-term deferred revenues were $9.3 billion. Operating cash flow was $18.7 billion during fiscal year 2024, up 9% in USD.

Fiscal year 2024 total revenues were up 6% in USD and constant currency to $53.0 billion. Cloud services and license support revenues were up 12% in USD and up 11% in constant currency to $39.4 billion. Cloud license and on-premise license revenues were down 12% in USD and constant currency to $5.1 billion.           

Fiscal year 2024 GAAP operating income was $15.4 billion, and GAAP operating margin was 29%. Non-GAAP operating income was $23.1 billion, and non-GAAP operating margin was 44%. GAAP net income was $10.5 billion, while non-GAAP net income was $15.7 billion. GAAP earnings per share was $3.71, while non-GAAP earnings per share was $5.56.

“In Q3 and Q4, Oracle signed the largest sales contracts in our history—driven by enormous demand for training AI large language models in the Oracle Cloud,” said Oracle CEO, Safra Catz. “These record level sales drove RPO up 44% to $98 billion. Throughout fiscal year 2025, I expect continued strong AI demand to push Oracle sales and RPO even higher—and result in double-digit revenue growth this fiscal year. I also expect that each successive quarter should grow faster than the previous quarter—as OCI capacity begins to catch up with demand. In Q4 alone, Oracle signed over 30 AI sales contracts totaling more than $12.5 billion—including one with Open AI to train ChatGPT in the Oracle Cloud.”

“Our multicloud cooperation with Microsoft expanded significantly in Q4, as we agreed to work together to support Open AI and ChatGPT—and 11 of the 23 OCI datacenters we are building inside Azure went live,” said Oracle Chairman and CTO, Larry Ellison. “As this Azure/OCI cloud capacity becomes available to the large installed base of Microsoft and Oracle customers, it will turbocharge our cloud database growth. Now customers can run any and every version of the Oracle database—Autonomous, 23ai Vector DB, etc.— in both the Azure and the Oracle Clouds. As customers continue to choose and use multiple clouds, Hyperscalers like Microsoft and Google are responding by interconnecting their clouds.  Oracle recently signed an agreement with Google to interconnect our clouds—and initially build 12 OCI datacenters inside the Google Cloud. We expect the Oracle database to be available within the Google Cloud in September this year.”

The board of directors declared a quarterly cash dividend of $0.40 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on July 11, 2024, with a payment date of July 25, 2024.

A sample list of customers which purchased Oracle Cloud services during the quarter will be available at www.oracle.com/customers/earnings/.A list of recent technical innovations and announcements is available at www.oracle.com/news/.To learn what industry analysts have been saying about Oracle’s products and services see www.oracle.com/corporate/analyst-reports/.

Earnings Conference Call and Webcast

Oracle will hold a conference call and webcast today to discuss these results at 4:00 p.m. Central. A live and replay webcast will be available on the Oracle Investor Relations website at www.oracle.com/investor/.

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

Trademarks

Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

“Safe Harbor” Statement: Statements in this press release relating to future plans, expectations, beliefs, intentions and prospects, including expectations for AI demand driving revenue growth and the timing of such growth, the effects of our multicloud strategy on cloud database growth, and our plans for datacenters and Oracle database availability inside the Google Cloud, are “forward-looking statements” and are subject to material risks and uncertainties. Risks and uncertainties that could affect our current expectations and our actual results, include, among others: our ability to develop new products and services, integrate acquired products and services and enhance our existing products and services; our management of complex cloud and hardware offerings, including the sourcing of technologies and technology components; significant coding, manufacturing or configuration errors in our offerings; risks associated with acquisitions; economic, political and market conditions; information technology system failures, privacy and data security concerns; cybersecurity breaches; unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading “Risk Factors.” Copies of these filings are available online from the SEC or by contacting Oracle’s Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on the Oracle Investor Relations website at www.oracle.com/investor/. All information set forth in this press release is current as of June 11, 2024. Oracle undertakes no duty to update any statement in light of new information or future events.

 

 ORACLE  CORPORATION

Q4 FISCAL 2024 FINANCIAL RESULTS

 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

($ in millions, except per share data)

Three Months Ended May 31,

% Increase

% Increase

(Decrease)

% of 

% of 

(Decrease)

in Constant

2024

Revenues

2023

Revenues

in US $

Currency (1)

REVENUES

Cloud services and license support 

$ 10,234

72 %

$ 9,370

68 %

9 %

10 %

Cloud license and on-premise license

1,838

13 %

2,152

15 %

(15 %)

(14 %)

Hardware

842

6 %

850

6 %

(1 %)

0 %

Services

1,373

9 %

1,465

11 %

(6 %)

(6 %)

      Total revenues

14,287

100 %

13,837

100 %

3 %

4 %

OPERATING EXPENSES

Cloud services and license support 

2,522

18 %

2,157

16 %

17 %

17 %

Hardware

241

2 %

261

2 %

(7 %)

(7 %)

Services

1,160

8 %

1,312

9 %

(12 %)

(11 %)

Sales and marketing

2,114

15 %

2,289

17 %

(8 %)

(7 %)

Research and development 

2,226

15 %

2,226

16 %

0 %

0 %

General and administrative

402

3 %

400

3 %

1 %

1 %

Amortization of intangible assets

743

5 %

870

6 %

(15 %)

(15 %)

Acquisition related and other

101

1 %

51

0 %

97 %

97 %

Restructuring

92

0 %

131

1 %

(29 %)

(29 %)

      Total operating expenses 

9,601

67 %

9,697

70 %

(1 %)

(1 %)

OPERATING INCOME

4,686

33 %

4,140

30 %

13 %

15 %

Interest expense

(878)

(6 %)

(955)

(7 %)

(8 %)

(8 %)

Non-operating expenses, net

(26)

0 %

(76)

(1 %)

(66 %)

(68 %)

INCOME BEFORE INCOME TAXES

3,782

27 %

3,109

22 %

22 %

24 %

(Provision for) benefit from income taxes

(639)

(5 %)

210

2 %

*

*

NET INCOME

$    3,143

22 %

$ 3,319

24 %

(5 %)

(4 %)

EARNINGS PER SHARE:

Basic

$      1.14

$    1.23

Diluted

$      1.11

$    1.19

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

Basic

2,753

2,707

Diluted

2,834

2,796

(1)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present

constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of

foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in

currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023,

which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods.

Movements in international currencies relative to the United States dollar during the three months ended May 31, 2024 compared

with the corresponding prior year period decreased our total revenues by 1 percentage point and operating income by 2 percentage

points.

*

Not meaningful

 

 

ORACLE  CORPORATION

Q4 FISCAL 2024 FINANCIAL RESULTS

RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) 

($ in millions, except per share data)

Three Months Ended May 31,

% Increase (Decrease)
in US $

% Increase (Decrease) in
Constant Currency (2) 

2024

2024

2023

2023

GAAP

Non-GAAP

GAAP

Non-GAAP

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

TOTAL REVENUES

$       14,287

$           –

$       14,287

$       13,837

$             –

$       13,837

3 %

3 %

4 %

4 %

TOTAL OPERATING EXPENSES

$         9,601

$   (1,983)

$         7,618

$         9,697

$    (2,016)

$         7,681

(1 %)

(1 %)

(1 %)

(1 %)

     Stock-based compensation (3)

1,047

(1,047)

–

964

(964)

–

9 %

*

9 %

*

     Amortization of intangible assets (4)

743

(743)

–

870

(870)

–

(15 %)

*

(15 %)

*

     Acquisition related and other

101

(101)

–

51

(51)

–

97 %

*

97 %

*

     Restructuring

92

(92)

–

131

(131)

–

(29 %)

*

(29 %)

*

OPERATING INCOME

$         4,686

$    1,983

$         6,669

$         4,140

$     2,016

$         6,156

13 %

8 %

15 %

9 %

OPERATING MARGIN %

33 %

47 %

30 %

44 %

288 bp.

219 bp.

311 bp.

235 bp.

INCOME TAX EFFECTS (5)

$           (639)

$      (519)

$        (1,158)

$            210

$       (680)

$           (470)

*

147 %

*

149 %

NET INCOME

$         3,143

$    1,464

$         4,607

$         3,319

$     1,336

$         4,655

(5 %)

(1 %)

(4 %)

0 %

DILUTED EARNINGS PER SHARE

$           1.11

$           1.63

$           1.19

$           1.67

(7 %)

(2 %)

(5 %)

(1 %)

DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING

2,834

–

2,834

2,796

–

2,796

1 %

1 %

1 %

1 %

(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with
our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures,
the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A. 

(2)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our
underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than
United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the
respective periods. 

(3)

Stock-based compensation was included in the following GAAP operating expense categories:

Three Months Ended

Three Months Ended

May 31, 2024

May 31, 2023

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

     Cloud services and license support

$            140

$      (140)

$               –

$            117

$      (117)

$               –

     Hardware

6

(6)

–

5

(5)

–

     Services

44

(44)

–

38

(38)

–

     Sales and marketing

178

(178)

–

177

(177)

–

     Research and development

583

(583)

–

535

(535)

–

     General and administrative

96

(96)

–

92

(92)

–

           Total stock-based compensation

$         1,047

$   (1,047)

$               –

$            964

$      (964)

$               –

(4)

Estimated future annual amortization expense related to intangible assets as of May 31, 2024 was as follows:

     Fiscal 2025

$         2,303

     Fiscal 2026

1,639

     Fiscal 2027

672

     Fiscal 2028

635

     Fiscal 2029

561

     Thereafter

1,080

           Total intangible assets, net

$         6,890

(5)

Income tax effects were calculated reflecting an effective GAAP tax rate of 16.9% and (6.7%) in the fourth quarter of fiscal 2024 and 2023, respectively, and an effective non-GAAP tax rate of 20.1% and 9.2% in the
fourth quarter of fiscal 2024 and 2023, respectively. The difference in our GAAP and non-GAAP tax rates in each of the fourth quarter of fiscal 2024 and 2023 was primarily due to the net tax effects related to stock-
based compensation expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to
an income tax benefit that was previously recorded due to the partial realignment of our legal entity structure.

*

Not meaningful

 

 

 

ORACLE  CORPORATION 

FISCAL 2024 YEAR TO DATE FINANCIAL RESULTS 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 

($ in millions, except per share data)

Year Ended May 31,

% Increase

% Increase

(Decrease)

% of 

% of 

(Decrease)

in Constant

2024

Revenues

2023

Revenues

in US $

Currency (1)

REVENUES

Cloud services and license support 

$ 39,383

74 %

$ 35,307

71 %

12 %

11 %

Cloud license and on-premise license

5,081

10 %

5,779

12 %

(12 %)

(12 %)

Hardware 

3,066

6 %

3,274

6 %

(6 %)

(7 %)

Services

5,431

10 %

5,594

11 %

(3 %)

(3 %)

      Total revenues

52,961

100 %

49,954

100 %

6 %

6 %

OPERATING EXPENSES

Cloud services and license support 

9,427

18 %

7,763

16 %

21 %

21 %

Hardware

891

2 %

1,040

2 %

(14 %)

(15 %)

Services

4,825

9 %

4,761

10 %

1 %

1 %

Sales and marketing

8,274

15 %

8,833

18 %

(6 %)

(7 %)

Research and development 

8,915

17 %

8,623

17 %

3 %

3 %

General and administrative

1,548

3 %

1,579

3 %

(2 %)

(2 %)

Amortization of intangible assets

3,010

6 %

3,582

7 %

(16 %)

(16 %)

Acquisition related and other

314

0 %

190

0 %

65 %

64 %

Restructuring

404

1 %

490

1 %

(18 %)

(18 %)

      Total operating expenses 

37,608

71 %

36,861

74 %

2 %

2 %

OPERATING INCOME 

15,353

29 %

13,093

26 %

17 %

16 %

Interest expense

(3,514)

(7 %)

(3,505)

(7 %)

0 %

0 %

Non-operating expenses, net

(98)

0 %

(462)

(1 %)

(79 %)

(80 %)

INCOME BEFORE INCOME TAXES

11,741

22 %

9,126

18 %

29 %

27 %

Provision for income taxes

(1,274)

(2 %)

(623)

(1 %)

105 %

103 %

NET INCOME 

$ 10,467

20 %

$    8,503

17 %

23 %

22 %

EARNINGS PER SHARE:

Basic

$      3.82

$      3.15

Diluted

$      3.71

$      3.07

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

Basic

2,744

2,696

Diluted

2,823

2,766

(1)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present
constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of
foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in
currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023,
which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods.
Movements in international currencies relative to the United States dollar during the year ended May 31, 2024 compared with the
corresponding prior year period increased our operating income by 1 percentage point.

 

 

ORACLE  CORPORATION

FISCAL 2024 YEAR TO DATE FINANCIAL RESULTS

RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) 

($ in millions, except per share data)

Year Ended May 31,

% Increase (Decrease)
in US $

% Increase (Decrease)
in Constant Currency (2) 

2024

2024

2023

2023

GAAP

Non-GAAP

GAAP

Non-GAAP

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

TOTAL REVENUES

$       52,961

$            –

$       52,961

$       49,954

$            –

$       49,954

6 %

6 %

6 %

6 %

TOTAL OPERATING EXPENSES

$       37,608

$   (7,702)

$       29,906

$       36,861

$   (7,809)

$       29,052

2 %

3 %

2 %

2 %

     Stock-based compensation (3)

3,974

(3,974)

–

3,547

(3,547)

–

12 %

*

12 %

*

     Amortization of intangible assets (4)

3,010

(3,010)

–

3,582

(3,582)

–

(16 %)

*

(16 %)

*

     Acquisition related and other

314

(314)

–

190

(190)

–

65 %

*

64 %

*

     Restructuring

404

(404)

–

490

(490)

–

(18 %)

*

(18 %)

*

OPERATING INCOME

$       15,353

$    7,702

$       23,055

$       13,093

$    7,809

$      20,902

17 %

10 %

16 %

10 %

OPERATING MARGIN %

29 %

44 %

26 %

42 %

278 bp.

169 bp.

271 bp.

169 bp.

INCOME TAX EFFECTS (5)

$        (1,274)

$   (2,459)

$        (3,733)

$           (623)

$   (2,136)

$       (2,759)

105 %

35 %

103 %

35 %

NET INCOME 

$       10,467

$    5,243

$       15,710

$         8,503

$    5,673

$      14,176

23 %

11 %

22 %

10 %

DILUTED EARNINGS PER SHARE

$           3.71

$           5.56

$           3.07

$          5.12

21 %

9 %

20 %

8 %

DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING

2,823

–

2,823

2,766

–

2,766

2 %

2 %

2 %

2 %

(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read
only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the
reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.

(2)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for
assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for
entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023, which was the last day of our prior
fiscal year, rather than the actual exchange rates in effect during the respective periods.

(3)

Stock-based compensation was included in the following GAAP operating expense categories:

Year Ended

Year Ended

May 31,
 2024

May 31,
 2023

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

     Cloud services and license support

$            525

$      (525)

$               –

$            435

$      (435)

$               –

     Hardware

23

(23)

–

18

(18)

–

     Services

167

(167)

–

137

(137)

–

     Sales and marketing

667

(667)

–

611

(611)

–

     Research and development

2,225

(2,225)

–

1,983

(1,983)

–

     General and administrative

367

(367)

–

363

(363)

–

           Total stock-based compensation

$         3,974

$   (3,974)

$               –

$         3,547

$   (3,547)

$               –

(4)

Estimated future annual amortization expense related to intangible assets as of May 31, 2024 was as follows:

     Fiscal 2025

$         2,303

     Fiscal 2026

1,639

     Fiscal 2027

672

     Fiscal 2028

635

     Fiscal 2029

561

     Thereafter

1,080

           Total intangible assets, net

$         6,890

(5)

Income tax effects were calculated reflecting an effective GAAP tax rate of 10.9% and 6.8% in fiscal 2024 and 2023, respectively, and an effective non-GAAP tax rate of 19.2% and 16.3% in fiscal
2024 and 2023, respectively. The difference in our GAAP and non-GAAP tax rates in each of fiscal 2024 and 2023 was primarily due to the net tax effects related to stock-based compensation
expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to an
income tax benefit that was previously recorded due to the partial realignment of our legal entity structure.

*

Not meaningful

 

 

 

ORACLE  CORPORATION

FISCAL 2024 FINANCIAL RESULTS

CONDENSED CONSOLIDATED BALANCE SHEETS

($ in millions)

May 31,

May 31,

2024

2023

ASSETS

Current Assets:

Cash and cash equivalents

$   10,454

$      9,765

Marketable securities

207

422

Trade receivables, net

7,874

6,915

Prepaid expenses and other current assets

4,019

3,902

Total Current Assets

22,554

21,004

Non-Current Assets:

   Property, plant and equipment, net

21,536

17,069

   Intangible assets, net

6,890

9,837

   Goodwill, net

62,230

62,261

   Deferred tax assets

12,273

12,226

   Other non-current assets

15,493

11,987

Total Non-Current Assets

118,422

113,380

TOTAL ASSETS

$ 140,976

$ 134,384

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:

Notes payable and other borrowings, current 

$   10,605

$      4,061

Accounts payable

2,357

1,204

Accrued compensation and related benefits

1,916

2,053

Deferred revenues

9,313

8,970

Other current liabilities

7,353

6,802

Total Current Liabilities

31,544

23,090

Non-Current Liabilities:

Notes payable and other borrowings, non-current

76,264

86,420

Income taxes payable

10,817

11,077

Deferred tax liabilities

3,692

5,772

Other non-current liabilities

9,420

6,469

Total Non-Current Liabilities

100,193

109,738

Stockholders’ Equity

9,239

1,556

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$ 140,976

$ 134,384

 

 

 

ORACLE  CORPORATION 

FISCAL 2024 FINANCIAL RESULTS

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

($ in millions)

Year Ended May 31,

2024

2023

Cash Flows From Operating Activities:

Net income 

$      10,467

$        8,503

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

3,129

2,526

Amortization of intangible assets

3,010

3,582

Deferred income taxes

(2,139)

(2,167)

Stock-based compensation

3,974

3,547

Other, net

720

661

Changes in operating assets and liabilities, net of effects from acquisitions:

Increase in trade receivables, net

(965)

(151)

Decrease in prepaid expenses and other assets

542

317

Decrease in accounts payable and other liabilities

(594)

(281)

Decrease in income taxes payable

(127)

(153)

Increase in deferred revenues

656

781

   Net cash provided by operating activities

18,673

17,165

Cash Flows From Investing Activities:

Purchases of marketable securities and other investments

(1,003)

(1,181)

Proceeds from sales and maturities of marketable securities and other investments

572

1,113

Acquisitions, net of cash acquired

(63)

(27,721)

Capital expenditures

(6,866)

(8,695)

   Net cash used for investing activities

(7,360)

(36,484)

Cash Flows From Financing Activities:

Payments for repurchases of common stock

(1,202)

(1,300)

Proceeds from issuances of common stock

742

1,192

Shares repurchased for tax withholdings upon vesting of restricted stock-based awards

(2,040)

(1,203)

Payments of dividends to stockholders

(4,391)

(3,668)

(Repayments of) proceeds from issuances of commercial paper, net

(167)

500

Proceeds from issuances of senior notes and other borrowings, net of issuance costs

–

33,494

Repayments of senior notes and other borrowings

(3,500)

(21,050)

Other, net

4

(55)

   Net cash (used for) provided by financing activities

(10,554)

7,910

Effect of exchange rate changes on cash and cash equivalents

(70)

(209)

Net increase (decrease) in cash and cash equivalents

689

(11,618)

Cash and cash equivalents at beginning of period

9,765

21,383

Cash and cash equivalents at end of period

$      10,454

$        9,765

 

 

 ORACLE  CORPORATION 

 FISCAL 2024 FINANCIAL RESULTS 

 FREE CASH FLOW – TRAILING 4-QUARTERS (1) 

 ($ in millions) 

 Fiscal 2023 

 Fiscal 2024 

 Q1 

 Q2 

 Q3 

 Q4 

 Q1 

 Q2 

 Q3 

 Q4 

GAAP Operating Cash Flow

$            10,542

$            15,073

$            15,503

$            17,165

$            17,745

$            17,039

$            18,239

$            18,673

Capital Expenditures

(5,168)

(6,678)

(8,205)

(8,695)

(8,290)

(6,935)

(5,981)

(6,866)

Free Cash Flow

$               5,374

$               8,395

$               7,298

$               8,470

$               9,455

$            10,104

$            12,258

$            11,807

Operating Cash Flow % Growth over prior year

(31 %)

47 %

49 %

80 %

68 %

13 %

18 %

9 %

Free Cash Flow % Growth over prior year

(57 %)

18 %

11 %

68 %

76 %

20 %

68 %

39 %

GAAP Net Income

$               5,808

$               8,797

$               8,373

$               8,503

$               9,375

$            10,137

$            10,642

$            10,467

Operating Cash Flow as a % of Net Income

182 %

171 %

185 %

202 %

189 %

168 %

171 %

178 %

Free Cash Flow as a % of Net Income

93 %

95 %

87 %

100 %

101 %

100 %

115 %

113 %

(1)   To supplement our statements of cash flows presented on a GAAP basis, we use non-GAAP measures of cash flows on a trailing 4-quarter basis to analyze cash flow generated from operations.
       We believe free cash flow is also useful as one of the bases for comparing our performance with our competitors. The presentation of non-GAAP free cash flow is not meant to be considered in
       isolation or as an alternative to net income as an indicator of our performance, or as an alternative to cash flows from operating activities as a measure of liquidity.

 

 

 ORACLE  CORPORATION 

 FISCAL 2024 FINANCIAL RESULTS 

 SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1) 

 ($ in millions) 

 Fiscal 2023 

 Fiscal 2024 

 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 

 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 

REVENUES BY OFFERINGS

 Cloud services 

$    3,579

$    3,813

$    4,053

$    4,437

$   15,881

$    4,635

$    4,775

$    5,054

$    5,311

$   19,774

 License support 

4,838

4,785

4,870

4,933

19,426

4,912

4,864

4,909

4,923

19,609

 Cloud services and license support 

8,417

8,598

8,923

9,370

35,307

9,547

9,639

9,963

10,234

39,383

 Cloud license and on-premise license 

904

1,435

1,288

2,152

5,779

809

1,178

1,256

1,838

5,081

 Hardware 

763

850

811

850

3,274

714

756

754

842

3,066

 Services  

1,361

1,392

1,376

1,465

5,594

1,383

1,368

1,307

1,373

5,431

                 Total revenues

$  11,445

$  12,275

$  12,398

$  13,837

$   49,954

$  12,453

$  12,941

$  13,280

$  14,287

$   52,961

AS REPORTED REVENUE GROWTH RATES 

Cloud services

45 %

43 %

45 %

54 %

47 %

30 %

25 %

25 %

20 %

25 %

License support

(1 %)

(2 %)

0 %

4 %

0 %

2 %

2 %

1 %

0 %

1 %

 Cloud services and license support 

14 %

14 %

17 %

23 %

17 %

13 %

12 %

12 %

9 %

12 %

 Cloud license and on-premise license 

11 %

16 %

0 %

(15 %)

(2 %)

(10 %)

(18 %)

(3 %)

(15 %)

(12 %)

 Hardware 

0 %

11 %

2 %

(1 %)

3 %

(6 %)

(11 %)

(7 %)

(1 %)

(6 %)

 Services  

74 %

74 %

74 %

76 %

75 %

2 %

(2 %)

(5 %)

(6 %)

(3 %)

          Total revenues

18 %

18 %

18 %

17 %

18 %

9 %

5 %

7 %

3 %

6 %

CONSTANT CURRENCY REVENUE GROWTH RATES (2)

Cloud services

50 %

48 %

48 %

55 %

50 %

29 %

24 %

24 %

20 %

24 %

License support

4 %

4 %

3 %

6 %

4 %

0 %

0 %

1 %

1 %

0 %

 Cloud services and license support  

20 %

20 %

20 %

25 %

21 %

12 %

11 %

11 %

10 %

11 %

 Cloud license and on-premise license 

19 %

23 %

4 %

(14 %)

2 %

(11 %)

(19 %)

(3 %)

(14 %)

(12 %)

 Hardware  

5 %

16 %

4 %

1 %

6 %

(8 %)

(12 %)

(7 %)

0 %

(7 %)

 Services  

84 %

83 %

80 %

78 %

81 %

1 %

(3 %)

(5 %)

(6 %)

(3 %)

          Total revenues 

23 %

25 %

21 %

18 %

22 %

8 %

4 %

7 %

4 %

6 %

CLOUD SERVICES AND LICENSE SUPPORT REVENUES

BY ECOSYSTEM

 Applications cloud services and license support 

$    4,016

$    4,080

$    4,166

$    4,390

$   16,651

$    4,471

$    4,474

$    4,584

$    4,642

$   18,172

 Infrastructure cloud services and license support 

4,401

4,518

4,757

4,980

18,656

5,076

5,165

5,379

5,592

21,211

          Total cloud services and license support revenues

$    8,417

$    8,598

$    8,923

$    9,370

$   35,307

$    9,547

$    9,639

$    9,963

$  10,234

$   39,383

AS REPORTED REVENUE GROWTH RATES 

 Applications cloud services and license support 

32 %

30 %

31 %

36 %

32 %

11 %

10 %

10 %

6 %

9 %

 Infrastructure cloud services and license support 

2 %

3 %

7 %

14 %

6 %

15 %

14 %

13 %

12 %

14 %

          Total cloud services and license support revenues

14 %

14 %

17 %

23 %

17 %

13 %

12 %

12 %

9 %

12 %

CONSTANT CURRENCY REVENUE GROWTH RATES (2)

 Applications cloud services and license support 

37 %

35 %

33 %

37 %

35 %

11 %

9 %

10 %

6 %

9 %

 Infrastructure cloud services and license support 

7 %

9 %

10 %

15 %

10 %

14 %

12 %

13 %

13 %

13 %

          Total cloud services and license support revenues

20 %

20 %

20 %

25 %

21 %

12 %

11 %

11 %

10 %

11 %

GEOGRAPHIC REVENUES

 Americas 

$    7,192

$    7,786

$    7,671

$    8,577

$   31,226

$    7,841

$    8,067

$    8,270

$    8,945

$   33,122

 Europe/Middle East/Africa 

2,691

2,895

3,067

3,457

12,109

3,005

3,170

3,316

3,539

13,030

 Asia Pacific 

1,562

1,594

1,660

1,803

6,619

1,607

1,704

1,694

1,803

6,809

          Total revenues

$  11,445

$  12,275

$  12,398

$  13,837

$   49,954

$  12,453

$  12,941

$  13,280

$  14,287

$   52,961

(1)   The sum of the quarterly information presented may vary from the year-to-date information presented due to rounding.

(2)   We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how
       our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies
       other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023 and 2022 for the fiscal 2024 and fiscal 2023 constant currency growth rate calculations
       presented, respectively, rather than the actual exchange rates in effect during the respective periods.

 

APPENDIX A

ORACLE CORPORATION
Q4 FISCAL 2024 FINANCIAL RESULTS
EXPLANATION OF NON-GAAP MEASURES

To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude certain business combination accounting entries and expenses related to acquisitions, as well as other significant expenses including stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on these non-GAAP measures. Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects:

Stock-based compensation expenses: We have excluded the effect of stock-based compensation expenses from our non-GAAP operating expenses, income tax effects and net income measures. Although stock-based compensation is a key incentive offered to our employees, and we believe such compensation contributed to the revenues earned during the periods presented and also believe it will contribute to the generation of future period revenues, we continue to evaluate our business performance excluding stock-based compensation expenses. Stock-based compensation expenses will recur in future periods.Amortization of intangible assets: We have excluded the effect of amortization of intangible assets from our non-GAAP operating expenses, income tax effects and net income measures. Amortization of intangible assets is inconsistent in amount and frequency and is significantly affected by the timing and size of our acquisitions. Investors should note that the use of intangible assets contributed to our revenues earned during the periods presented and will contribute to our future period revenues as well. Amortization of intangible assets will recur in future periods.Acquisition related and other expenses; and restructuring expenses: We have excluded the effect of acquisition related and other expenses and the effect of restructuring expenses from our non-GAAP operating expenses, income tax effects and net income measures. We incurred expenses in connection with our acquisitions and also incurred certain other operating expenses or income, which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. Acquisition related and other expenses consisted of personnel related costs for transitional and certain other employees, certain business combination adjustments including certain adjustments after the measurement period has ended, and certain other operating items, net. Restructuring expenses consisted of employee severance and other exit costs. We believe it is useful for investors to understand the effects of these items on our total operating expenses. Although acquisition related and other expenses and restructuring expenses may diminish over time with respect to past acquisitions and/or strategic initiatives, we generally will incur certain of these expenses in connection with any future acquisitions and/or strategic initiatives.

 

View original content:https://www.prnewswire.com/news-releases/oracle-announces-fiscal-2024-fourth-quarter-and-fiscal-full-year-financial-results-302169918.html

SOURCE Oracle Corporation

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7 Top-Tier Database Conference Papers Power Core Transaction Speedup of 32% TencentDB TDSQL

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April 24, 2025

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SHENZHEN, China, April 24, 2025 /PRNewswire/ — Renmin University and Tencent’s joint innovation lab showcased groundbreaking advancements in financial-grade distributed database systems at their 2025 annual conference. Over two years, seven papers were accepted at top database conferences (VLDB, ICDE, SIGMOD), with core technologies integrated into TencentDB TDSQL, achieving 32% faster transactions in state-owned banks and 40% improved query speeds in government big data applications.

Key Innovations:

1. Transaction Processing Optimization

HDCC Protocol: Combines deterministic (Calvin) and non-deterministic (OCC) concurrency control, resolving cross-mechanism recovery issues. Delivers 5.7x performance gains (VLDB 2025).Lion Protocol: Uses LSTM-based workload prediction to optimize replica placement dynamically, avoiding migration bottlenecks. Achieves 2.7x higher throughput and 76.4% better scalability (ICDE 2024).

2. Storage Optimization

HOCO Engine: Enables direct computation on compressed text data via homomorphic compression, offering 9.18x higher throughput for access/modification and 7.16x lower latency for analytics (SIGMOD 2024).SALI Framework: A scalable learned index that adapts to workload skew and boosts concurrency, delivering 2.04x higher insertion throughput under 64 threads (SIGMOD 2024).

Collaboration Impact: The research bridges academia and industry, with contributions from Renmin University’s data engineering experts and Tencent’s TDSQL R&D team. Attendees included leaders such as Du Xiaoyong (Renmin) and Wang Juhong (Tencent), highlighting the partnership’s strategic importance in advancing database technologies for critical sectors like finance and governance.

This collaboration underscores China’s growing leadership in high-performance database systems, combining cutting-edge AI/ML techniques with robust engineering to solve real-world scalability and efficiency challenges.

 

 

View original content:https://www.prnewswire.com/apac/news-releases/7-top-tier-database-conference-papers-power-core-transaction-speedup-of-32-tencentdb-tdsql-302436766.html

SOURCE Tencent Cloud

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Ant Digital Technologies Launches the DeTerministic Virtual Machine, Breaking the Glass Ceiling with AI-driven Web3 Advancements

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April 24, 2025

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The AI-powered DeTerministic Virtual Machine Stack breaks new ground as an open source platform, empowering community advancement and revolutionising smart contract execution across blockchain networks

HANGZHOU, China, April 24, 2025 /PRNewswire/ — Ant Digital Technologies today unveiled the DeTerministic Virtual Machine (DTVM) Stack, a groundbreaking smart contract execution framework crafted to the increasing complexity and wide adoption of blockchain technology. This innovative solution aims to tackle long-standing issues around blockchain performance, deterministic execution, and ecosystem interoperability, signifying a significant leap forward in the evolution of emerging technologies.

The rapid evolution of blockchain technology has spurred significant performance and scalability challenges, prompting a continuous demand for innovation in high-performance blockchain networks in recent years. Central to these challenges are the constraints surrounding smart contract execution. As a result, high-performance blockchain virtual machines (VMs) are crucial for the progression of Web3 development, given their role in executing smart contracts and powering decentralised applications (dApps).

In response to the growing need for enhancements, the recently released DTVM Stack introduces a pioneering approach for smart contract execution. By leveraging WebAssembly (Wasm) technology and maintaining seamless compatibility with the Ethereum Virtual Machine (EVM) Application Binary Interface (ABI), DTVM Stack sets a new standard in smart contract performance optimisation by including multi-language SDKs and a core execution engine. In addition, the comprehensive solution integrates SmartCogent, an AI toolkit that facilitates a holistic development experience driven by Large Language Models (LLMs) and specialised AI agents to automate the smart contract lifecycle.

Dr. Ying Yan, Chief Scientist at Ant Digital Technologies, shared, “With the DTVM, we deliver a paradigm shift by guaranteeing 100% deterministic results, eliminating unpredictable outcomes in decentralised applications. Our seamless integration with the Ethereum ecosystem ensures flawless contract execution on all Ethereum-based platforms. In essence, DTVM SmartCogent serves as the Rosetta Stone of smart contract development, streamlining processes from coding, auditing to deployment into a cohesive, AI-driven workflow with unparalleled efficiency and accuracy. This empowers developers to concentrate on innovation rather than debugging, revolutionising the landscape of blockchain technology

Through rigorous testing, DTVM Stack has demonstrated exceptional performance metrics. Its logical vulnerability detection achieves a remarkable 81% accuracy rate, coupled with an impressive 86% success rate in repairing identified issues. These results stand as a testament to DTVM Stack’s superior capabilities, surpassing industry benchmarks and outshining comparable open-source projects in the field.

Key features of the DTVM:

AI-powered SmartCogent

Enhances development efficiency by providing smart contract generations, security audits, and on-chain deployments, ensuring code security while boosting productivity

Performance Breakthrough

Achieves up to 2× acceleration in ERC contract executionReduces computational latency by up to 40.5% compared to existing Wasm Virtual MachinesEnables sub-millisecond post-deployment invocation times (0.95ms), marking a substantial 23× improvement in compilation and innovation efficiency over existing Wasm Virtual Machines

Multi-Language Development

Supports a wide array of mainstream programming languages including Solidity, C++, Rust, Java, and GoMaintains EVM ABI compatibility, ensuring seamless integration with existing frameworks

Advanced Security Features

Implements hardware-accelerated bounds checking for enhanced securityReduces the Trusted Computing Base to 69.5KLoC, optimizing system integrityDecreases machine code object file sizes by 30-72.6%, enhancing overall performance and efficiency

Developed by core technical teams from Ant Digital Technology’s Antchain, Ant Group’s Supercomputing Division, Pharos, and other leading entities, the DTVM stands as a testament to collaborative expertise and innovation. Currently, DTVM, comprising the core engine, multi-language SDK, and other essential technologies, has been open-sourced under the Apache License 2.0, allowing developers worldwide access to the complete codebase and documentation via GitHub.

By offering DTVM Stack as a free and open resource, Ant Digital Technologies is not only fostering innovation but also cultivating a vibrant community engagement platform. This strategic approach empowers developers globally to harness the full potential of DTVM Stack, encouraging continuous exploration and expansion of its cutting-edge capabilities.

For further details, please refer to the following resources:
Research Paper: https://arxiv.org/abs/2504.16552 
SmartCogent Demo&Application: https://zan.top/0x/dtvm-smart-cogent 

About Ant Digital Technologies

Ant Digital Technologies is Ant Group’s digital technology subsidiary. Ant Digital Technologies continues to promote the development and application of digital technologies, introducing leading products like ZOLOZ, mPaaS and ZAN based on its expertise in AI, privacy computing, and security technology. Ant Digital Technologies is committed to working with partners across different industries to support small and medium-sized financial institutions in their digital transformation, enable SMEs in the service industry to operate digitally, and facilitate digital collaboration across industries. Revenue from Ant Digital Technologies’ international business operation increased by 300% in 2023.

View original content:https://www.prnewswire.com/apac/news-releases/ant-digital-technologies-launches-the-deterministic-virtual-machine-breaking-the-glass-ceiling-with-ai-driven-web3-advancements-302436715.html

SOURCE Ant Digital Technologies

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Odoo Showcases Scalable ERP at Kuala Lumpur Business Show

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KUALA LUMPUR, Malaysia, April 24, 2025 /PRNewswire/ — Business management software Odoo wrapped up successful Business Show themed “Leverage Scalable ERP Software to Accelerate Your Business” together with sponsoring partners PCI Odoo (Malaysia) Sdn Bhd, A1 Consulting, Onnet Consulting, and customer SME Aerospace.

Greeting 700 industry pioneers in person, Odoo announced the €500 million transaction led by CapitalG and Sequoia Capital and showcased its latest product version, Odoo 18.

Live Product Showcase

User-friendly yet no less comprehensive, Odoo powers through every stage of its customers’ business expansion. The event showcased:

One-stop trading and service solution with inter-connected CRM, sales, supply chain, and project managementAutomated scheduling and creation of manufacturing orders, BoMs, and job ordersIntegrated data collection, consolidation, and sharingMyInvois integration – create and upload e-invoices directly from Odoo within clicksShopee Connector – synchronize your Shopee orders and manage inventory, deliveries, and all the rest on Odoo

Implementation Partner Panel & Customer Testimonial

At the partner panel and customer testimonial session, PCI Odoo (Malaysia) Sdn Bhd, A1 Consulting, and Onnet Consulting shared digital transformation tips.

PCI Odoo (Malaysia) Sdn Bhd and A1 Consulting offered insights into successful ERP adoption and pinpointed the importance of designing implementation strategies according to the company size. Nicole Khor Cheng Looi, CTO and Director of Onnet Consulting, the Odoo partner of 10 years, testified that Odoo’s regular version upgrades and releases of localized features are the software’s biggest competitive edge in Malaysia. “With constant product upgrades, Odoo empowers its customers to scale continuously with the latest technology,” he concluded.

Odoo’s customer, manufacturer SME Aerospace, underscores the software’s comprehensive business management capabilities. “If there’s one key takeaway from our journey, it’s this: a strong, integrated ERP like Odoo is more than just a system—it’s a foundation for future growth,” says Mr. Ahmad Fuzli, Vice President of Defence & Manufacturing, NADI Group / SME Aerospace.

View Odoo’s upcoming event schedule to connect with your local IT service providers and industry leaders, or schedule an online call with Odoo to learn more about its services in Malaysia.

About Odoo

With 70+ official apps and 57k+ third-party apps, Odoo manages businesses’ finance, sales, inventory & manufacturing processes, human resources, marketing, team productivity, and more. The Belgian open-source service provider operates in 19 countries and regions worldwide, including the United States, Indonesia, Dubai, and Hong Kong SAR.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/odoo-showcases-scalable-erp-at-kuala-lumpur-business-show-302436671.html

SOURCE Odoo HK Limited

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