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Wednesday, September 11, 2019

Oracle (ORCL) reported earnings on Wed 11 Sept 19 (a/h)

** charts after earnings **


 Oracle: CEO Mark Hurd will take a leave of absence for health related reasons

Said Oracle Founder, Executive Chairman, and Chief Technology Officer Larry Ellison, "Mark has requested a leave of absence from Oracle to address some health related issues and we all wish him a speedy recovery. Oracle has an extremely capable CEO in Safra Catz and an extraordinarily deep team of executives, many with long tenure at Oracle. Safra and I will cover Mark's responsibilities during his absence with support from the rest of our strong management team."
Also, co had been scheduled to report earnings tomorrow after the close. Perhaps this news prompted ORCL to report a day early.

 Oracle reports EPS in-line, revs in-line; adds $15 bln to buyback 

  • Reports Q1 (Aug) earnings of $0.81 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $0.81; revenues rose 0.2% year/year to $9.22 bln vs the $9.29 bln S&P Capital IQ Consensus. Cloud services and license support +4% ex-FX to $6.8 bln.
  • "Non-GAAP earnings per share grew 14% in USD and 16% in constant currency," said Oracle CEO Safra Catz. "As our low margin hardware businesses continue to get smaller, while our higher margin cloud business continues to get bigger, we expect Oracle's operating margins, earnings per share and free cash flow all to grow. We're off to a good start in FY20, and we expect this to be our 3rd consecutive year of double-digit non-GAAP earnings per share growth."
  • "Our cloud ERP businesses, including both Fusion ERP and NetSuite ERP, grew 33% in Q1," said Oracle CEO Mark Hurd. "We now have over 6,500 Fusion ERP customers and over 18,000 NetSuite ERP customers. This continued strong growth has solidified our number one market leader position in cloud ERP worldwide, and our number one position in the overall applications business in North America."
  • "Autonomy is the defining attribute of a Generation 2 Cloud," said Oracle CTO, Larry Ellison. "Next week at our OpenWorld conference, we will announce more Autonomous Cloud Services to complement the Oracle Autonomous Database. The Autonomous Database is the most successful new product in Oracle's history. We added more than 500 new Autonomous Database cloud customers in Q1, and we expect to more than double that in Q2."
  • The Board of Directors increased the authorization for share repurchases by $15 bln.
  • The company was scheduled to report earnings tomorrow, but it instead announced earnings and news of a medical leave of absence for co-CEO Mark Hurd this afternoon.
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