Larry Ellison, co-founder and CEO of Oracle Corp, speaks during the Oracle OpenWorld conference in San Francisco on October 22, 2018.
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- Profits: $1.41 per share, adjusted, versus $1.38 expected, according to LSEG, formerly Refinitiv
- he won: $13.28 billion, compared to $13.3 billion expected, according to LSEG
Revenue rose 7% in the quarter from $12.4 billion a year earlier. Net income rose 27% to $2.4 billion, or 85 cents per share, from $1.9 billion, or 68 cents per share, a year earlier.
Oracle's cloud services and license support segment, its largest business, saw sales rise 12% to $9.96 billion, slightly beating StreetAccount's forecast of $9.94 billion. The company attributed this increase to strong demand for its artificial intelligence servers.
Safra Catz, Oracle's CEO, said the company added several “large new cloud infrastructure” contracts during the quarter. Oracle said the company's cloud revenue, reported as part of the unit, rose 25% year over year to $5.1 billion.
“We signed several large deals this quarter and have more in the pipeline,” Katz told investors on the earnings call.
The company's other units did not perform as well.
Cloud licenses and on-premises sales fell 3% to $1.26 billion, slightly above StreetAccount forecasts. Hardware revenue fell 7% to $754 million, while sales in the company's services division fell 5% to $1.31 billion, both below StreetAccount forecasts.
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