Oracle’s Mixed Q1 Earnings: Profits Up 15 Percent But Revenue Down As Ellison Emphasizes The Cloud

Oracle just announced mixed third quarter earnings this afternoon, reporting that revenues were down 2% to $8.2 billion. GAAP earnings per share were $0.41, up 15% compared to last year while non-GAAP earnings per share were up 11% to $0.53. Analysts expected $0.53 in earnings per share on $8.4 billion in revenue GAAP new software licenses and cloud software subscriptions revenues were up 5% to $1.6 billion, while non-GAAP new software licenses and cloud software subscriptions revenues were up 6% to $1.6 billion. Both GAAP and non-GAAP software license updates and product support revenues were up 3% to $4.1 billion. Both GAAP and non-GAAP hardware systems products revenues were down 24% to $779 million.

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