Technology
Oracle Announces Fiscal 2025 First Quarter Financial Results
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2 weeks agoon
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Q1 GAAP Earnings per Share up 20% to $1.03, Non-GAAP Earnings per Share up 17% to $1.39Q1 Total Revenue $13.3 billion, up 7% in USD and up 8% in constant currencyQ1 Total Remaining Performance Obligations up 53% to $99 billionQ1 Cloud Revenue (IaaS plus SaaS) $5.6 billion, up 21% in USD and up 22% in constant currencyQ1 Cloud Infrastructure (IaaS) Revenue $2.2 billion, up 45% in USD and up 46% in constant currencyQ1 Cloud Application (SaaS) Revenue $3.5 billion, up 10% in both USD and constant currencyQ1 Fusion Cloud ERP (SaaS) Revenue $0.9 billion, up 16% in USD and up 17% in constant currencyQ1 NetSuite Cloud ERP (SaaS) Revenue $0.9 billion, up 20% in both USD and constant currency
AUSTIN, Texas, Sept. 9, 2024 /PRNewswire/ — Oracle Corporation (NYSE: ORCL) today announced fiscal 2025 Q1 results. Total quarterly revenues were up 7% year-over-year in USD, and up 8% in constant currency to $13.3 billion. Cloud services revenues were up 21% year-over-year in USD, and up 22% in constant currency to $5.6 billion. Cloud license and on-premise license revenues were up 7% in USD and up 8% in constant currency to $870 million.
Q1 GAAP operating income was $4.0 billion. Non-GAAP operating income was $5.7 billion, up 13% in USD and up 14% in constant currency. GAAP operating margin was 30%, and non-GAAP operating margin was 43%. GAAP net income was $2.9 billion. Non-GAAP net income was $4.0 billion, up 18% in USD and up 19% in constant currency. Q1 GAAP earnings per share was $1.03, up 20% in USD and up 22% in constant currency, while non-GAAP earnings per share was $1.39, up 17% in USD and up 18% in constant currency.
Short-term deferred revenues were $11.5 billion. Over the last twelve months, operating cash flow was $19.1 billion and free cash flow was $11.3 billion.
“As Cloud Services became Oracle’s largest business, both our operating income and earnings per share growth accelerated,” said Oracle CEO, Safra Catz. “Non-GAAP operating income was up 14% in constant currency to $5.7 billion, and non-GAAP EPS was up 18% in constant currency to $1.39 in Q1. RPO was up 53% from last year to a record $99 billion. That strong contract backlog will increase revenue growth throughout FY25. But the biggest news of all was signing a MultiCloud agreement with AWS—including our latest technology Exadata hardware and Version 23ai of our database software—embedded into AWS cloud datacenters. AWS customers will get easy and convenient access to the Oracle database when we go live in December later this year.”
“Oracle has 162 cloud datacenters in operation and under construction around the world,” said Oracle Chairman and CTO, Larry Ellison. “The largest of these datacenters is 800 megawatts and will contain acres of NVIDIA GPU Clusters for training large scale AI models. In Q1, 42 additional cloud GPU contracts were signed for a total of $3 billion. Our database business growth rate is increasing as a result of our MultiCloud agreements with Microsoft and Google. At the end of Q1, 7 Oracle Cloud regions were live at Microsoft with 24 more being built, and 4 Oracle Cloud regions were live at Google with 14 more being built. Our recently signed AWS contract was a milestone in the MultiCloud Era. Soon customers will be able use the latest Oracle database technology from within every Hyperscaler’s cloud.”
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 October 10, 2024, with a payment date of October 24, 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 the expectations for converting the Remaining Performance Obligations to revenue, the timing and build out of additional datacenters, and future growth as a result of our MultiCloud strategy, 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, including our AI products; our management of complex cloud and hardware offerings, including the sourcing of technologies and technology components; our ability to secure data center capacity; 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 September 9, 2024. Oracle undertakes no duty to update any statement in light of new information or future events.
ORACLE CORPORATION
Q1 FISCAL 2025 FINANCIAL RESULTS
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
($ in millions, except per share data)
Three Months Ended August 31,
% Increase
% Increase
(Decrease)
% of
% of
(Decrease)
in Constant
2024
Revenues
2023
Revenues
in US $
Currency (1)
REVENUES
Cloud services and license support
$ 10,519
79 %
$ 9,547
77 %
10 %
11 %
Cloud license and on-premise license
870
7 %
809
6 %
7 %
8 %
Hardware
655
5 %
714
6 %
(8 %)
(8 %)
Services
1,263
9 %
1,383
11 %
(9 %)
(8 %)
Total revenues
13,307
100 %
12,453
100 %
7 %
8 %
OPERATING EXPENSES
Cloud services and license support
2,597
19 %
2,179
18 %
19 %
20 %
Hardware
162
1 %
219
2 %
(26 %)
(25 %)
Services
1,147
9 %
1,212
10 %
(5 %)
(5 %)
Sales and marketing
2,036
15 %
2,026
16 %
1 %
1 %
Research and development
2,306
17 %
2,216
18 %
4 %
5 %
General and administrative
358
3 %
393
3 %
(9 %)
(8 %)
Amortization of intangible assets
624
5 %
763
6 %
(18 %)
(18 %)
Acquisition related and other
13
0 %
11
0 %
9 %
9 %
Restructuring
73
1 %
138
1 %
(47 %)
(47 %)
Total operating expenses
9,316
70 %
9,157
74 %
2 %
2 %
OPERATING INCOME
3,991
30 %
3,296
26 %
21 %
22 %
Interest expense
(842)
(6 %)
(872)
(7 %)
(3 %)
(3 %)
Non-operating income (expenses), net
20
0 %
(49)
0 %
*
*
INCOME BEFORE INCOME TAXES
3,169
24 %
2,375
19 %
33 %
36 %
(Provision for) benefit from income taxes
(240)
(2 %)
45
0 %
*
*
NET INCOME
$ 2,929
22 %
$ 2,420
19 %
21 %
23 %
EARNINGS PER SHARE:
Basic
$ 1.06
$ 0.89
Diluted
$ 1.03
$ 0.86
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic
2,761
2,728
Diluted
2,851
2,823
(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, 2024, 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 August 31, 2024 compared with the corresponding prior year period decreased our total revenues by 1 percentage point and
operating income by 1 percentage point.
*
Not meaningful
ORACLE CORPORATION
Q1 FISCAL 2025 FINANCIAL RESULTS
RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1)
($ in millions, except per share data)
Three Months Ended August 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
$ 13,307
$ –
$ 13,307
$ 12,453
$ –
$ 12,453
7 %
7 %
8 %
8 %
TOTAL OPERATING EXPENSES
$ 9,316
$ (1,717)
$ 7,599
$ 9,157
$ (1,761)
$ 7,396
2 %
3 %
2 %
3 %
Stock-based compensation (3)
1,007
(1,007)
–
849
(849)
–
19 %
*
19 %
*
Amortization of intangible assets (4)
624
(624)
–
763
(763)
–
(18 %)
*
(18 %)
*
Acquisition related and other
13
(13)
–
11
(11)
–
9 %
*
9 %
*
Restructuring
73
(73)
–
138
(138)
–
(47 %)
*
(47 %)
*
OPERATING INCOME
$ 3,991
$ 1,717
$ 5,708
$ 3,296
$ 1,761
$ 5,057
21 %
13 %
22 %
14 %
OPERATING MARGIN %
30 %
43 %
26 %
41 %
353 bp.
228 bp.
366 bp.
232 bp.
INCOME TAX EFFECTS (5)
$ (240)
$ (682)
$ (922)
$ 45
$ (823)
$ (778)
*
18 %
*
20 %
NET INCOME
$ 2,929
$ 1,035
$ 3,964
$ 2,420
$ 938
$ 3,358
21 %
18 %
23 %
19 %
DILUTED EARNINGS PER SHARE
$ 1.03
$ 1.39
$ 0.86
$ 1.19
20 %
17 %
22 %
18 %
DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING
2,851
–
2,851
2,823
–
2,823
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, 2024, 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
August 31, 2024
August 31, 2023
GAAP
Adj.
Non-GAAP
GAAP
Adj.
Non-GAAP
Cloud services and license support
$ 141
$ (141)
$ –
$ 111
$ (111)
$ –
Hardware
6
(6)
–
5
(5)
–
Services
43
(43)
–
34
(34)
–
Sales and marketing
162
(162)
–
135
(135)
–
Research and development
569
(569)
–
484
(484)
–
General and administrative
86
(86)
–
80
(80)
–
Total stock-based compensation
$ 1,007
$ (1,007)
$ –
$ 849
$ (849)
$ –
(4)
Estimated future annual amortization expense related to intangible assets as of August 31, 2024 was as follows:
Remainder of fiscal 2025
$ 1,683
Fiscal 2026
1,639
Fiscal 2027
672
Fiscal 2028
635
Fiscal 2029
561
Fiscal 2030
522
Thereafter
558
Total intangible assets, net
$ 6,270
(5)
Income tax effects were calculated reflecting an effective GAAP tax rate of 7.6% and (1.9%) in the first quarter of fiscal 2025 and 2024, respectively, and an effective non-GAAP tax rate of 18.9% and 18.8% in the first quarter of fiscal 2025
and 2024, respectively. The difference in our GAAP and non-GAAP tax rates in each of the first quarters of fiscal 2025 and 2024 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
Q1 FISCAL 2025 FINANCIAL RESULTS
CONDENSED CONSOLIDATED BALANCE SHEETS
($ in millions)
August 31,
May 31,
2024
2024
ASSETS
Current Assets:
Cash and cash equivalents
$ 10,616
$ 10,454
Marketable securities
295
207
Trade receivables, net
8,021
7,874
Prepaid expenses and other current assets
4,140
4,019
Total Current Assets
23,072
22,554
Non-Current Assets:
Property, plant and equipment, net
23,094
21,536
Intangible assets, net
6,270
6,890
Goodwill, net
62,249
62,230
Deferred tax assets
12,219
12,273
Other non-current assets
17,310
15,493
Total Non-Current Assets
121,142
118,422
TOTAL ASSETS
$ 144,214
$ 140,976
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Notes payable and other borrowings, current
$ 9,201
$ 10,605
Accounts payable
2,207
2,357
Accrued compensation and related benefits
1,772
1,916
Deferred revenues
11,455
9,313
Other current liabilities
7,410
7,353
Total Current Liabilities
32,045
31,544
Non-Current Liabilities:
Notes payable and other borrowings, non-current
75,314
76,264
Income taxes payable
11,038
10,817
Deferred tax liabilities
3,442
3,692
Other non-current liabilities
11,106
9,420
Total Non-Current Liabilities
100,900
100,193
Stockholders’ Equity
11,269
9,239
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$ 144,214
$ 140,976
ORACLE CORPORATION
Q1 FISCAL 2025 FINANCIAL RESULTS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
($ in millions)
Three Months Ended August 31,
2024
2023
Cash Flows From Operating Activities:
Net income
$ 2,929
$ 2,420
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
804
712
Amortization of intangible assets
624
763
Deferred income taxes
(151)
(517)
Stock-based compensation
1,007
849
Other, net
130
169
Changes in operating assets and liabilities:
(Increase) decrease in trade receivables, net
(81)
380
Decrease in prepaid expenses and other assets
367
269
Decrease in accounts payable and other liabilities
(531)
(457)
Increase in income taxes payable
24
69
Increase in deferred revenues
2,305
2,317
Net cash provided by operating activities
7,427
6,974
Cash Flows From Investing Activities:
Purchases of marketable securities and other investments
(477)
(333)
Proceeds from sales and maturities of marketable securities and other investments
15
85
Capital expenditures
(2,303)
(1,314)
Net cash used for investing activities
(2,765)
(1,562)
Cash Flows From Financing Activities:
Payments for repurchases of common stock
(150)
(150)
Proceeds from issuances of common stock
179
308
Shares repurchased for tax withholdings upon vesting of restricted stock-based awards
(851)
(1,060)
Payments of dividends to stockholders
(1,103)
(1,091)
Repayments of commercial paper, net
(396)
(562)
Proceeds from issuances of term loan credit agreements
5,627
–
Repayments of senior notes and term loan credit agreements
(7,630)
(1,000)
Other, net
(261)
27
Net cash used for financing activities
(4,585)
(3,528)
Effect of exchange rate changes on cash and cash equivalents
85
(36)
Net increase in cash and cash equivalents
162
1,848
Cash and cash equivalents at beginning of period
10,454
9,765
Cash and cash equivalents at end of period
$ 10,616
$ 11,613
ORACLE CORPORATION
Q1 FISCAL 2025 FINANCIAL RESULTS
FREE CASH FLOW – TRAILING 4-QUARTERS (1)
($ in millions)
Fiscal 2024
Fiscal 2025
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
GAAP Operating Cash Flow
$ 17,745
$ 17,039
$ 18,239
$ 18,673
$ 19,126
Capital Expenditures
(8,290)
(6,935)
(5,981)
(6,866)
(7,855)
Free Cash Flow
$ 9,455
$ 10,104
$ 12,258
$ 11,807
$ 11,271
Operating Cash Flow % Growth over prior year
68 %
13 %
18 %
9 %
8 %
Free Cash Flow % Growth over prior year
76 %
20 %
68 %
39 %
19 %
GAAP Net Income
$ 9,375
$ 10,137
$ 10,642
$ 10,467
$ 10,976
Operating Cash Flow as a % of Net Income
189 %
168 %
171 %
178 %
174 %
Free Cash Flow as a % of Net Income
101 %
100 %
115 %
113 %
103 %
(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
Q1 FISCAL 2025 FINANCIAL RESULTS
SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1)
($ in millions)
Fiscal 2024
Fiscal 2025
Q1
Q2
Q3
Q4
TOTAL
Q1
Q2
Q3
Q4
TOTAL
REVENUES BY OFFERINGS
Cloud services
$ 4,635
$ 4,775
$ 5,054
$ 5,311
$ 19,774
$ 5,623
$ 5,623
License support
4,912
4,864
4,909
4,923
19,609
4,896
4,896
Cloud services and license support
9,547
9,639
9,963
10,234
39,383
10,519
10,519
Cloud license and on-premise license
809
1,178
1,256
1,838
5,081
870
870
Hardware
714
756
754
842
3,066
655
655
Services
1,383
1,368
1,307
1,373
5,431
1,263
1,263
Total revenues
$ 12,453
$ 12,941
$ 13,280
$ 14,287
$ 52,961
$ 13,307
$ 13,307
AS REPORTED REVENUE GROWTH RATES
Cloud services
30 %
25 %
25 %
20 %
25 %
21 %
21 %
License support
2 %
2 %
1 %
0 %
1 %
0 %
0 %
Cloud services and license support
13 %
12 %
12 %
9 %
12 %
10 %
10 %
Cloud license and on-premise license
(10 %)
(18 %)
(3 %)
(15 %)
(12 %)
7 %
7 %
Hardware
(6 %)
(11 %)
(7 %)
(1 %)
(6 %)
(8 %)
(8 %)
Services
2 %
(2 %)
(5 %)
(6 %)
(3 %)
(9 %)
(9 %)
Total revenues
9 %
5 %
7 %
3 %
6 %
7 %
7 %
CONSTANT CURRENCY REVENUE GROWTH RATES (2)
Cloud services
29 %
24 %
24 %
20 %
24 %
22 %
22 %
License support
0 %
0 %
1 %
1 %
0 %
0 %
0 %
Cloud services and license support
12 %
11 %
11 %
10 %
11 %
11 %
11 %
Cloud license and on-premise license
(11 %)
(19 %)
(3 %)
(14 %)
(12 %)
8 %
8 %
Hardware
(8 %)
(12 %)
(7 %)
0 %
(7 %)
(8 %)
(8 %)
Services
1 %
(3 %)
(5 %)
(6 %)
(3 %)
(8 %)
(8 %)
Total revenues
8 %
4 %
7 %
4 %
6 %
8 %
8 %
CLOUD SERVICES AND LICENSE SUPPORT REVENUES
BY ECOSYSTEM
Applications cloud services and license support
$ 4,471
$ 4,474
$ 4,584
$ 4,642
$ 18,172
$ 4,769
$ 4,769
Infrastructure cloud services and license support
5,076
5,165
5,379
5,592
21,211
5,750
5,750
Total cloud services and license support revenues
$ 9,547
$ 9,639
$ 9,963
$ 10,234
$ 39,383
$ 10,519
$ 10,519
AS REPORTED REVENUE GROWTH RATES
Applications cloud services and license support
11 %
10 %
10 %
6 %
9 %
7 %
7 %
Infrastructure cloud services and license support
15 %
14 %
13 %
12 %
14 %
13 %
13 %
Total cloud services and license support revenues
13 %
12 %
12 %
9 %
12 %
10 %
10 %
CONSTANT CURRENCY REVENUE GROWTH RATES (2)
Applications cloud services and license support
11 %
9 %
10 %
6 %
9 %
7 %
7 %
Infrastructure cloud services and license support
14 %
12 %
13 %
13 %
13 %
14 %
14 %
Total cloud services and license support revenues
12 %
11 %
11 %
10 %
11 %
11 %
11 %
GEOGRAPHIC REVENUES
Americas
$ 7,841
$ 8,067
$ 8,270
$ 8,945
$ 33,122
$ 8,372
$ 8,372
Europe/Middle East/Africa
3,005
3,170
3,316
3,539
13,030
3,228
3,228
Asia Pacific
1,607
1,704
1,694
1,803
6,809
1,707
1,707
Total revenues
$ 12,453
$ 12,941
$ 13,280
$ 14,287
$ 52,961
$ 13,307
$ 13,307
(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, 2024 and 2023 for the fiscal 2025
and fiscal 2024 constant currency growth rate calculations presented, respectively, rather than the actual exchange rates in effect during the respective periods.
APPENDIX A
ORACLE CORPORATION
Q1 FISCAL 2025 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-2025-first-quarter-financial-results-302242550.html
SOURCE Oracle
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KM Malta Airlines, the Maltese Islands’ New National Carrier, Implements CellPoint Digital’s Payment Orchestration Solution
Published
6 mins agoon
September 23, 2024By
The partnership will enable KM Malta Airlines to provide passengers with a seamless payment experience and access to their preferred payment methods.
LONDON, Sept. 23, 2024 /CNW/ — CellPoint Digital, a global pioneer in Payment Orchestration, is proud to announce it has partnered with KM Malta Airlines to support the airline’s payment processes across multiple sales channels, including on its website and App, allowing passengers in future to pay with key alternative payment methods (APMs) like Apple Pay.
From the start of operations on March 31, 2024, CellPoint Digital was entrusted to support KM Malta Airlines’ payment processes across. Using CellPoint Digital’s Payment Orchestration platform, KM Malta Airlines launched the service with optimised payment processes, a cost-effective payment strategy, and a customer-centric payment model. This partnership reflects the airline’s commitment to providing its passengers with a seamless, convenient payment experience and the airline’s recognition of CellPoint Digital as a valued payment solution provider.
Through its partnership with CellPoint Digital, KM Malta Airlines gains access to a network of acquirer connections, including its newly introduced partner, Shift4 (formerly Finaro), to support its growth strategy. This allows the airline to optimise transaction routing, reduce payment costs, and settle in its preferred currency.
“It’s not often that we get to be present at the inception of one of Europe’s next great airlines, but that’s the opportunity we have with this partnership,” said Kristian Gjerding, CEO of CellPoint Digital. “By prioritising its payment strategy as a cornerstone of its launch strategy, KM Malta Airlines demonstrates that it cares about providing passengers with the best possible booking experience and setting itself up for future success.”
Roy Kinnear, CCO of KM Malta Airlines, stated, “A highly optimised, cost-efficient payment strategy is important to the success of our airline. That’s why we partnered with experts in aviation payments to deliver a comprehensive platform tailored to our passengers’ needs and allowing us to expand our offering of customer choice payment mechanisms.”
The Advantage of Day-One Payment Orchestration
Payment Orchestration is a concept that describes the end-to-end management of all components of a payment, from authorisation to routing to settlement to reporting, allowing airlines to boost conversions in direct and indirect sales channels at lower transaction costs. CellPoint Digital’s Payment Orchestration Platform, which KM Malta Airlines will implement, routes transactions intelligently to increase acceptance, simplifies and centralises back-end reconciliation, integrates various payment methods like Apple Pay, and easily accommodates multiple PSPs and acquirers, including KM Malta Airline’s preferred acquiring partner, Shift4.
For more information about the CellPoint Digital partnership with KM Malta Airlines or to speak with company executives, please get in touch with Steven Osei at steven.osei@cellpointdigital.com
About CellPoint Digital
CellPoint Digital is a fintech leader in payment orchestration and optimisation. CellPoint Digital’s main solution is a powerful Payment Orchestration Platform that optimises digital payment transactions from cards or alternative payment methods and accelerates the deployment of new payment options. Merchants can easily scale their own payment ecosystem across the world, unify the customer payment experience across their website, mobile apps and other channels, optimise the routing of each transaction, increase conversion rates and minimise payment costs. CellPoint Digital has offices in Copenhagen, Dallas, Dubai, London, Miami, Pune and Singapore. Visit www.cellpointdigital.com to learn more.
About KM Malta Airlines
The KM Malta Airlines schedule serves 17 airports across 15 key European cities, namely, Amsterdam, Berlin, Brussels, Catania, Dusseldorf, London Gatwick, London Heathrow, Lyon, Madrid, Milan, Munich, Paris Charles de Gaulle, Paris Orly, Prague, Rome, Vienna and Zurich.
Bookings can be made on kmmaltairlines.com
Contact: media@kmmaltairlines.com
View original content:https://www.prnewswire.com/news-releases/km-malta-airlines-the-maltese-islands-new-national-carrier-implements-cellpoint-digitals-payment-orchestration-solution-302254685.html
SOURCE CellPoint Digital
Technology
Advantech Unveils Expanded Singapore Office to Boost ASEAN Presence and Support AIoT Innovations with Strategic Partnerships
Published
6 mins agoon
September 23, 2024By
SINGAPORE, Sept. 23, 2024 /PRNewswire/ — Advantech (TWSE: 2395), a global leader in industrial IoT and embedded computing solutions, has officially inaugurated its expanded regional office in Singapore. This strategic investment is set to enhance Advantech’s core competencies within the ASEAN region. Located at 7002 Ang Mo Kio Avenue 5, the new office will double the company’s current facility space, enhancing its infrastructure to meet the rising demand for high-technology solutions, particularly in the semiconductor sector. The expansion underscores Advantech’s commitment to collaborating with silicon and ecosystem partners and investing in local talent development through industry-academia partnerships. The new office will also support Advantech’s Configure-To-Order Service (CTOS), reinforcing its strategic goal of deepening and localising industry presence while advancing a comprehensive AIoT industry development strategy.
Vincent Chang, Managing Director of Asia and Intercontinental Region at Advantech, stated, “The relocation to our new premises marks a significant milestone in Advantech’s nearly 30 years of growth in Singapore. Established in 1995, Advantech Singapore has grown to become a pivotal hub in the ASEAN region, leading to the creation of Advantech Malaysia, Thailand, Indonesia, and Vietnam as key regional business units. Advantech envisions Singapore evolving into a Corporate Development Core Competency hub, focusing on business intelligence, strategic planning, and advancing branding, public relations, and ESG programmes across the ASEAN region.”
Advantech is also excited to launch the second year of its AIoT Innowork programme with Singapore Polytechnic (SP). This year’s projects will focus on sustainable development, net-zero emissions, and generative AI. Students will use Advantech’s WISE-PaaS, a cloud-based platform, to develop AIoT solutions, including a smart outdoor agriculture proof-of-concept within SP’s campus. Additionally, the programme will advance intelligent EV charging and parking space monitoring with Advantech’s LoRaWAN gateway and generative AI, featuring a dashboard for carpark occupancy and an assistive chatbot for availability queries.
In response to the government’s focus on future workforce development, a student team from SP is set to create a proof of concept for a “Generative AI-powered Virtual Sales Agent.” This innovative project aims to transform customer interactions by enhancing sales and engagement through cutting-edge AI technology. SP envisions this technology revolutionising customer engagement, enhancing service support, and improving operational efficiency.
Advantech Singapore is dedicated to advancing the “MySkillsFuture” programme, a key initiative by the Singapore government to support lifelong learning. Advantech aims to build a collaborative value chain that fosters a sustainable and thriving IoT ecosystem by partnering with ecosystem players, academic institutions, and industry leaders. Additionally, through academic collaboration, Advantech seeks to cultivate industry growth and align with its social responsibility objectives by producing and distributing urban farming products to underserved communities. These strategic partnerships are poised to drive long-term industry success and reinforce Advantech’s commitment to its ESG goals.
View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/advantech-unveils-expanded-singapore-office-to-boost-asean-presence-and-support-aiot-innovations-with-strategic-partnerships-302255164.html
SOURCE Advantech Co. Singapore Pte Ltd
Technology
Estonia Strengthens Smart Mobility Networking and Strategic Partnerships in the Gulf
Published
6 mins agoon
September 23, 2024By
DUBAI, UAE, Sept. 23, 2024 /PRNewswire/ — Trade Estonia, part of Enterprise Estonia, is concluding its participation at the ITS World Congress 2024 in Dubai, further asserting its leadership in intelligent transport systems (ITS) and smart mobility. Estonia, known for being the first country to allow testing autonomous vehicles on public roads since 2017, showcased its innovative technologies that are setting new benchmarks in smart mobility and ITS.
At the exhibition, Trade Estonia displayed pioneering solutions, including Bamboo Apps’ cutting-edge dispatch system for autonomous shuttles, enabling remote monitoring of unmanned vehicles to enhance safety and efficiency. e-Pavement integrates sensors within road surfaces to improve safety and traffic management, while Auve Tech’s autonomous shuttles seamlessly integrate with public transport, offering efficient and eco-friendly urban mobility solutions. Metrosert is enhancing the precision of smart infrastructure, and Digilogistika Keskus is optimising logistics through advanced digital platforms, boosting supply chain efficiency in smart cities.
H.E. The Ambassador of Estonia to the UAE Maria Belovas stated, “Estonia’s footprint in integrating cutting-edge technology is pivotal in enhancing transportation safety, efficiency, and mobility. Our innovations are designed to meet the evolving needs of global smart cities and ensure a sustainable future for transportation.”
These advancements exemplify Estonia’s commitment to developing intelligent, sustainable, and efficient transport solutions that address both urban and rural mobility needs, and solidifying its global network.
In addition to presenting its technological progress at the ITS World Congress, Estonia focused on building meaningful connections and exploring new avenues for collaboration.
Forging Strategic Global Partnerships
Estonia is dedicated to expanding its international impact by building strategic partnerships, particularly in the Gulf region.
A recent networking event, hosted by H.E. The Ambassador of Finland, Ms. Tuula Yrjölä, and H.E. The Ambassador of Estonia, Ms. Maria Belovas, brought together Finnish and Estonian business delegations to cultivate global connections in smart mobility. The event also facilitated valuable discussions on future collaborations, reflecting Trade Estonia’s ongoing mission to support global innovation and sustainability in transport.
Ms. Maria Belovas highlighted the importance of these international connections in advancing the organisation’s strategic goals and enriching global collaborative efforts.
Building on this momentum, Trade Estonia is gearing up for its next significant engagement at GITEX Global 2024. This upcoming event will serve as a new stage for Estonia to underline their technological advancements and explore new avenues for collaboration with global technology leaders.
About Trade Estonia
Trade Estonia is part of Enterprise Estonia. As a state organisation, Trade Estonia helps Estonian companies to establish themselves in international markets. With a focus on future technologies and pioneering projects, Trade Estonia provides Estonian companies with access to market analysis and marketing strategies and creates the conditions for them to operate successfully on a global scale. Trade Estonia not only promotes the development of new business areas and the establishment of strategic partnerships, but also facilitates access to international networks, thus contributing to the global competitiveness of Estonian companies.
Photo: https://mma.prnewswire.com/media/2512077/Maria_Belovas.jpg
View original content:https://www.prnewswire.co.uk/news-releases/estonia-strengthens-smart-mobility-networking-and-strategic-partnerships-in-the-gulf-302255186.html
KM Malta Airlines, the Maltese Islands’ New National Carrier, Implements CellPoint Digital’s Payment Orchestration Solution
Advantech Unveils Expanded Singapore Office to Boost ASEAN Presence and Support AIoT Innovations with Strategic Partnerships
Estonia Strengthens Smart Mobility Networking and Strategic Partnerships in the Gulf
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