ORACLE CORPORATION Announces Record-Breaking Q1 FY2024 Financial Results
September 20, 2023
🌥️Earnings Overview
On September 11th 2023, ORACLE CORPORATION ($NYSE:ORCL) released their financial results for the first quarter of FY2024, ending on August 31st 2023. Revenue totaled USD 12.4 billion, an 8.8% increase year-over-year, while net income rose by 56.1% to USD 2.4 billion.
Market Price
On Monday, ORACLE CORPORATION announced record-breaking financial results for the first quarter of fiscal year 2024. The company’s stock opened at $127.0 and closed at $126.7, up by 0.3% from the last closing price of 126.3. Given these strong financial results, ORACLE CORPORATION has increased its outlook for FY2024 and is optimistic about its future prospects. The company remains confident that it will continue to deliver strong financial results and grow its market share in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Oracle Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 50.96k | 9.38k | 20.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Oracle Corporation. More…
| Operations | Investing | Financing |
| 17.75k | -8.61k | -7.93k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Oracle Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 136.66k | 133.82k | 0.4 |
Key Ratios Snapshot
Some of the financial key ratios for Oracle Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 9.1% | -0.7% | 26.4% |
| FCF Margin | ROE | ROA |
| 18.6% | 782.6% | 6.1% |
Analysis
GoodWhale is pleased to present an analysis of ORACLE CORPORATION‘s financials. A look at the Star Chart shows that ORACLE CORPORATION is strong in asset, profitability, and has medium dividend and growth scores. From this data, we can conclude that ORACLE CORPORATION fits into the ‘gorilla’ category of companies – those that have achieved stable and high revenue or earnings growth due to their strong competitive advantage. Given the strong performance of ORACLE CORPORATION in the areas of asset and profitability, investors who appreciate steady returns over high-risk, high-potential returns may be interested in this company. Furthermore, ORACLE CORPORATION has a very high health score of 8/10 with regard to its cashflows and debt, making it well-equipped to sustain future operations in times of crisis. More…
Peers
Headquartered in Redwood Shores, California, USA, the company specializes in developing and marketing database software and technology, cloud engineered systems, and enterprise software products—particularly its own brands of database management systems. Oracle is the second-largest software company by revenue and market capitalization after Microsoft. SAP SE is a German multinational software corporation that makes enterprise software to manage business operations and customer relations. Headquartered in Walldorf, Baden-Württemberg, with regional offices around the world, SAP is the market leader in enterprise application software. Bytes Technology Group PLC is a UK-based provider of IT services. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The company was founded in 1984 and has its headquarters in Bracknell, Berkshire. Turnium Technology Group Inc is a Canadian provider of IT services. It is listed on the Toronto Stock Exchange and is a constituent of the S&P/TSX Composite Index. The company was founded in 2001 and has its headquarters in Mississauga, Ontario.
– SAP SE ($BER:SAPA)
SAP SE is a German multinational software corporation that makes enterprise software to manage business operations and customer relations. The company has a market capitalization of $123.95 billion as of 2022 and a return on equity of 8.78%. SAP is one of the largest software companies in the world and is a major player in the enterprise software market. The company’s products are used by businesses of all sizes, from small businesses to large enterprises. SAP’s product portfolio includes enterprise resource planning (ERP), customer relationship management (CRM), and business intelligence (BI) software. The company also offers cloud-based solutions and services.
– Bytes Technology Group PLC ($LSE:BYIT)
Founded in 1997, Bytes Technology Group PLC is a leading provider of IT services and solutions. The company has a market capitalization of over 1 billion pounds and an annual turnover of over 500 million pounds. The company offers a wide range of services including infrastructure management, application development, and business process outsourcing. The company employs over 4,000 people and has a global presence with offices in the UK, US, India, and South Africa.
– Turnium Technology Group Inc ($TSXV:TTGI)
Turnium Technology Group Inc is a provider of turnkey technology solutions. The company’s solutions include data center infrastructure, enterprise resource planning (ERP), customer relationship management (CRM), and business intelligence (BI). Turnium’s technology solutions are designed to help businesses reduce costs, improve efficiency, and accelerate growth. The company’s primary market is North America, followed by Europe and Asia Pacific.
Summary
Oracle Corporation has reported strong financial results for the first quarter of FY2024. Revenues grew 8.8% year-over-year to USD 12.4 billion, while net income increased 56.1% to USD 2.4 billion. This indicates that the company is performing well and investors can be confident investing in Oracle.
Going forward, it is expected that Oracle will continue to deliver positive results as it focuses on enhancing its products and services. Overall, Oracle is a sound investment option in the current market.
