ORACLE CORPORATION Reports Q1 Earnings Results for FY2024 as of August 31 2023
September 13, 2023
🌥️Earnings Overview
Oracle Corporation ($NYSE:ORCL) announced their fiscal year 2024 Q1 earnings results, dated as of August 31 2023, on September 11 2023. The company declared total revenue of USD 12.4 billion, a year-over-year increase of 8.8%. In addition, its net income was recorded at USD 2.4 billion, up 56.1% compared to the same quarter of the previous year.
Market Price
The company’s stock opened at $127.0 and closed at $126.7, a 0.3% increase from the prior closing price of 126.3. This growth was mainly driven by strong sales in the cloud segment, as well as cost savings from efficiencies in the rest of the business. Overall, ORACLE CORPORATION reported a solid performance for its first quarter of fiscal year 2024. With its strong performance in terms of revenue and EPS growth, the company appears to be on track to achieve its long-term goals and objectives for the year. 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
At GoodWhale, we conducted an analysis of ORACLE CORPORATION‘s financials. According to our Star Chart, ORACLE CORPORATION stands strong in asset and profitability but is medium in dividend and growth. This means that it has achieved stable and high revenue or earning growth due to its strong competitive advantage – something that falls into the category of ‘gorilla’ companies. In terms of investment, ORACLE CORPORATION has a high health score of 8/10 with regard to its cashflows and debt, meaning that it is capable to sustain future operations in times of crisis. This makes it an attractive option for investors looking for reliable and secure investments. In addition, the company has a strong competitive advantage which indicates that it is likely to yield higher returns compared to other companies in the same sector. Consequently, investors looking for attractive returns may be interested in ORACLE CORPORATION. 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 had a strong first quarter of FY2024, as revenue increased 8.8% year-over-year to $12.4 billion and net income saw a 56.1% rise to $2.4 billion. Despite macroeconomic pressures, the tech giant’s earnings report indicates that the company is performing well and investors should consider taking a position in Oracle Corporation due to its impressive financial results and potential for future growth.
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