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Oracle | 8-K: Oracle Announces Fiscal 2024 Third Quarter Financial Results

SEC announcement ·  Mar 11 16:13
Summary by Moomoo AI
On March 11, 2024, Oracle Corporation released its financial results for the fiscal third quarter ending February 29, 2024. The report highlighted a 7% increase in total revenue to $13.3 billion, with cloud revenue (IaaS plus SaaS) surging by 25% to $5.1 billion. The company's cloud infrastructure (IaaS) revenue grew by 49%, while cloud application (SaaS) revenue increased by 14%. Oracle's GAAP earnings per share stood at $0.85, with non-GAAP earnings per share up 16% to $1.41. The board of directors declared a quarterly cash dividend of $0.40 per share, payable on April 24, 2024, to stockholders of record as of April 10, 2024. Oracle CEO Safra Catz highlighted the signing of large new cloud infrastructure contracts, driving total Remaining Performance Obligations up 29% to over $80 billion, a record high. Oracle Chairman and CTO Larry Ellison noted the completion of moving the majority of Cerner customers to Oracle's Gen2 Cloud Infrastructure and the upcoming delivery of a new Ambulatory Clinic Cloud Application Suite.
On March 11, 2024, Oracle Corporation released its financial results for the fiscal third quarter ending February 29, 2024. The report highlighted a 7% increase in total revenue to $13.3 billion, with cloud revenue (IaaS plus SaaS) surging by 25% to $5.1 billion. The company's cloud infrastructure (IaaS) revenue grew by 49%, while cloud application (SaaS) revenue increased by 14%. Oracle's GAAP earnings per share stood at $0.85, with non-GAAP earnings per share up 16% to $1.41. The board of directors declared a quarterly cash dividend of $0.40 per share, payable on April 24, 2024, to stockholders of record as of April 10, 2024. Oracle CEO Safra Catz highlighted the signing of large new cloud infrastructure contracts, driving total Remaining Performance Obligations up 29% to over $80 billion, a record high. Oracle Chairman and CTO Larry Ellison noted the completion of moving the majority of Cerner customers to Oracle's Gen2 Cloud Infrastructure and the upcoming delivery of a new Ambulatory Clinic Cloud Application Suite.
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