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Oracle Announces Fiscal 2024 Fourth Quarter and Fiscal Full Year Financial Results

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2 years ago

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Q4 Total Remaining Performance Obligations up 44% to $98 billionQ4 GAAP Earnings per Share $1.11, Non-GAAP Earnings per Share $1.63Q4 Total Revenue $14.3 billion, up 3% in USD, up 4% in constant currency Q4 Cloud Revenue (IaaS plus SaaS) $5.3 billion, up 20% in USD and constant currencyQ4 Cloud Infrastructure (IaaS) Revenue $2.0 billion, up 42% in USD and constant currency Q4 Cloud Application (SaaS) Revenue $3.3 billion, up 10% in USD and constant currencyQ4 Fusion Cloud ERP (SaaS) Revenue $0.8 billion, up 14% in USD and constant currencyQ4 NetSuite Cloud ERP (SaaS) Revenue $0.8 billion, up 19% in USD and constant currencyFY 2024 Total Revenue $53.0 billion, up 6% in USD and constant currency

AUSTIN, Texas, June 11, 2024 /PRNewswire/ — Oracle Corporation (NYSE: ORCL) today announced fiscal 2024 Q4 and full-year 2024 results. Total quarterly revenues were up 3% year-over-year in USD and up 4% in constant currency to $14.3 billion. Cloud services and license support revenues were up 9% in USD and up 10% in constant currency to $10.2 billion. Cloud license and on-premise license revenues were down 15% in USD and down 14% in constant currency to $1.8 billion. 

Q4 GAAP operating income was $4.7 billion. Non-GAAP operating income was $6.7 billion, up 8% in USD and up 9% in constant currency. GAAP operating margin was 33%, and non-GAAP operating margin was 47%. GAAP net income was $3.1 billion, and non-GAAP net income was $4.6 billion. Q4 GAAP earnings per share was $1.11 while non-GAAP earnings per share was $1.63.

Short-term deferred revenues were $9.3 billion. Operating cash flow was $18.7 billion during fiscal year 2024, up 9% in USD.

Fiscal year 2024 total revenues were up 6% in USD and constant currency to $53.0 billion. Cloud services and license support revenues were up 12% in USD and up 11% in constant currency to $39.4 billion. Cloud license and on-premise license revenues were down 12% in USD and constant currency to $5.1 billion.           

Fiscal year 2024 GAAP operating income was $15.4 billion, and GAAP operating margin was 29%. Non-GAAP operating income was $23.1 billion, and non-GAAP operating margin was 44%. GAAP net income was $10.5 billion, while non-GAAP net income was $15.7 billion. GAAP earnings per share was $3.71, while non-GAAP earnings per share was $5.56.

“In Q3 and Q4, Oracle signed the largest sales contracts in our history—driven by enormous demand for training AI large language models in the Oracle Cloud,” said Oracle CEO, Safra Catz. “These record level sales drove RPO up 44% to $98 billion. Throughout fiscal year 2025, I expect continued strong AI demand to push Oracle sales and RPO even higher—and result in double-digit revenue growth this fiscal year. I also expect that each successive quarter should grow faster than the previous quarter—as OCI capacity begins to catch up with demand. In Q4 alone, Oracle signed over 30 AI sales contracts totaling more than $12.5 billion—including one with Open AI to train ChatGPT in the Oracle Cloud.”

“Our multicloud cooperation with Microsoft expanded significantly in Q4, as we agreed to work together to support Open AI and ChatGPT—and 11 of the 23 OCI datacenters we are building inside Azure went live,” said Oracle Chairman and CTO, Larry Ellison. “As this Azure/OCI cloud capacity becomes available to the large installed base of Microsoft and Oracle customers, it will turbocharge our cloud database growth. Now customers can run any and every version of the Oracle database—Autonomous, 23ai Vector DB, etc.— in both the Azure and the Oracle Clouds. As customers continue to choose and use multiple clouds, Hyperscalers like Microsoft and Google are responding by interconnecting their clouds.  Oracle recently signed an agreement with Google to interconnect our clouds—and initially build 12 OCI datacenters inside the Google Cloud. We expect the Oracle database to be available within the Google Cloud in September this year.”

The board of directors declared a quarterly cash dividend of $0.40 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on July 11, 2024, with a payment date of July 25, 2024.

A sample list of customers which purchased Oracle Cloud services during the quarter will be available at www.oracle.com/customers/earnings/.A list of recent technical innovations and announcements is available at www.oracle.com/news/.To learn what industry analysts have been saying about Oracle’s products and services see www.oracle.com/corporate/analyst-reports/.

Earnings Conference Call and Webcast

Oracle will hold a conference call and webcast today to discuss these results at 4:00 p.m. Central. A live and replay webcast will be available on the Oracle Investor Relations website at www.oracle.com/investor/.

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

Trademarks

Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.

“Safe Harbor” Statement: Statements in this press release relating to future plans, expectations, beliefs, intentions and prospects, including expectations for AI demand driving revenue growth and the timing of such growth, the effects of our multicloud strategy on cloud database growth, and our plans for datacenters and Oracle database availability inside the Google Cloud, are “forward-looking statements” and are subject to material risks and uncertainties. Risks and uncertainties that could affect our current expectations and our actual results, include, among others: our ability to develop new products and services, integrate acquired products and services and enhance our existing products and services; our management of complex cloud and hardware offerings, including the sourcing of technologies and technology components; significant coding, manufacturing or configuration errors in our offerings; risks associated with acquisitions; economic, political and market conditions; information technology system failures, privacy and data security concerns; cybersecurity breaches; unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading “Risk Factors.” Copies of these filings are available online from the SEC or by contacting Oracle’s Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on the Oracle Investor Relations website at www.oracle.com/investor/. All information set forth in this press release is current as of June 11, 2024. Oracle undertakes no duty to update any statement in light of new information or future events.

 

 ORACLE  CORPORATION

Q4 FISCAL 2024 FINANCIAL RESULTS

 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

($ in millions, except per share data)

Three Months Ended May 31,

% Increase

% Increase

(Decrease)

% of 

% of 

(Decrease)

in Constant

2024

Revenues

2023

Revenues

in US $

Currency (1)

REVENUES

Cloud services and license support 

$ 10,234

72 %

$ 9,370

68 %

9 %

10 %

Cloud license and on-premise license

1,838

13 %

2,152

15 %

(15 %)

(14 %)

Hardware

842

6 %

850

6 %

(1 %)

0 %

Services

1,373

9 %

1,465

11 %

(6 %)

(6 %)

      Total revenues

14,287

100 %

13,837

100 %

3 %

4 %

OPERATING EXPENSES

Cloud services and license support 

2,522

18 %

2,157

16 %

17 %

17 %

Hardware

241

2 %

261

2 %

(7 %)

(7 %)

Services

1,160

8 %

1,312

9 %

(12 %)

(11 %)

Sales and marketing

2,114

15 %

2,289

17 %

(8 %)

(7 %)

Research and development 

2,226

15 %

2,226

16 %

0 %

0 %

General and administrative

402

3 %

400

3 %

1 %

1 %

Amortization of intangible assets

743

5 %

870

6 %

(15 %)

(15 %)

Acquisition related and other

101

1 %

51

0 %

97 %

97 %

Restructuring

92

0 %

131

1 %

(29 %)

(29 %)

      Total operating expenses 

9,601

67 %

9,697

70 %

(1 %)

(1 %)

OPERATING INCOME

4,686

33 %

4,140

30 %

13 %

15 %

Interest expense

(878)

(6 %)

(955)

(7 %)

(8 %)

(8 %)

Non-operating expenses, net

(26)

0 %

(76)

(1 %)

(66 %)

(68 %)

INCOME BEFORE INCOME TAXES

3,782

27 %

3,109

22 %

22 %

24 %

(Provision for) benefit from income taxes

(639)

(5 %)

210

2 %

*

*

NET INCOME

$    3,143

22 %

$ 3,319

24 %

(5 %)

(4 %)

EARNINGS PER SHARE:

Basic

$      1.14

$    1.23

Diluted

$      1.11

$    1.19

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

Basic

2,753

2,707

Diluted

2,834

2,796

(1)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present

constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of

foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in

currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023,

which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods.

Movements in international currencies relative to the United States dollar during the three months ended May 31, 2024 compared

with the corresponding prior year period decreased our total revenues by 1 percentage point and operating income by 2 percentage

points.

*

Not meaningful

 

 

ORACLE  CORPORATION

Q4 FISCAL 2024 FINANCIAL RESULTS

RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) 

($ in millions, except per share data)

Three Months Ended May 31,

% Increase (Decrease)
in US $

% Increase (Decrease) in
Constant Currency (2) 

2024

2024

2023

2023

GAAP

Non-GAAP

GAAP

Non-GAAP

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

TOTAL REVENUES

$       14,287

$           –

$       14,287

$       13,837

$             –

$       13,837

3 %

3 %

4 %

4 %

TOTAL OPERATING EXPENSES

$         9,601

$   (1,983)

$         7,618

$         9,697

$    (2,016)

$         7,681

(1 %)

(1 %)

(1 %)

(1 %)

     Stock-based compensation (3)

1,047

(1,047)

–

964

(964)

–

9 %

*

9 %

*

     Amortization of intangible assets (4)

743

(743)

–

870

(870)

–

(15 %)

*

(15 %)

*

     Acquisition related and other

101

(101)

–

51

(51)

–

97 %

*

97 %

*

     Restructuring

92

(92)

–

131

(131)

–

(29 %)

*

(29 %)

*

OPERATING INCOME

$         4,686

$    1,983

$         6,669

$         4,140

$     2,016

$         6,156

13 %

8 %

15 %

9 %

OPERATING MARGIN %

33 %

47 %

30 %

44 %

288 bp.

219 bp.

311 bp.

235 bp.

INCOME TAX EFFECTS (5)

$           (639)

$      (519)

$        (1,158)

$            210

$       (680)

$           (470)

*

147 %

*

149 %

NET INCOME

$         3,143

$    1,464

$         4,607

$         3,319

$     1,336

$         4,655

(5 %)

(1 %)

(4 %)

0 %

DILUTED EARNINGS PER SHARE

$           1.11

$           1.63

$           1.19

$           1.67

(7 %)

(2 %)

(5 %)

(1 %)

DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING

2,834

–

2,834

2,796

–

2,796

1 %

1 %

1 %

1 %

(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with
our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures,
the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A. 

(2)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our
underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than
United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the
respective periods. 

(3)

Stock-based compensation was included in the following GAAP operating expense categories:

Three Months Ended

Three Months Ended

May 31, 2024

May 31, 2023

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

     Cloud services and license support

$            140

$      (140)

$               –

$            117

$      (117)

$               –

     Hardware

6

(6)

–

5

(5)

–

     Services

44

(44)

–

38

(38)

–

     Sales and marketing

178

(178)

–

177

(177)

–

     Research and development

583

(583)

–

535

(535)

–

     General and administrative

96

(96)

–

92

(92)

–

           Total stock-based compensation

$         1,047

$   (1,047)

$               –

$            964

$      (964)

$               –

(4)

Estimated future annual amortization expense related to intangible assets as of May 31, 2024 was as follows:

     Fiscal 2025

$         2,303

     Fiscal 2026

1,639

     Fiscal 2027

672

     Fiscal 2028

635

     Fiscal 2029

561

     Thereafter

1,080

           Total intangible assets, net

$         6,890

(5)

Income tax effects were calculated reflecting an effective GAAP tax rate of 16.9% and (6.7%) in the fourth quarter of fiscal 2024 and 2023, respectively, and an effective non-GAAP tax rate of 20.1% and 9.2% in the
fourth quarter of fiscal 2024 and 2023, respectively. The difference in our GAAP and non-GAAP tax rates in each of the fourth quarter of fiscal 2024 and 2023 was primarily due to the net tax effects related to stock-
based compensation expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to
an income tax benefit that was previously recorded due to the partial realignment of our legal entity structure.

*

Not meaningful

 

 

 

ORACLE  CORPORATION 

FISCAL 2024 YEAR TO DATE FINANCIAL RESULTS 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 

($ in millions, except per share data)

Year Ended May 31,

% Increase

% Increase

(Decrease)

% of 

% of 

(Decrease)

in Constant

2024

Revenues

2023

Revenues

in US $

Currency (1)

REVENUES

Cloud services and license support 

$ 39,383

74 %

$ 35,307

71 %

12 %

11 %

Cloud license and on-premise license

5,081

10 %

5,779

12 %

(12 %)

(12 %)

Hardware 

3,066

6 %

3,274

6 %

(6 %)

(7 %)

Services

5,431

10 %

5,594

11 %

(3 %)

(3 %)

      Total revenues

52,961

100 %

49,954

100 %

6 %

6 %

OPERATING EXPENSES

Cloud services and license support 

9,427

18 %

7,763

16 %

21 %

21 %

Hardware

891

2 %

1,040

2 %

(14 %)

(15 %)

Services

4,825

9 %

4,761

10 %

1 %

1 %

Sales and marketing

8,274

15 %

8,833

18 %

(6 %)

(7 %)

Research and development 

8,915

17 %

8,623

17 %

3 %

3 %

General and administrative

1,548

3 %

1,579

3 %

(2 %)

(2 %)

Amortization of intangible assets

3,010

6 %

3,582

7 %

(16 %)

(16 %)

Acquisition related and other

314

0 %

190

0 %

65 %

64 %

Restructuring

404

1 %

490

1 %

(18 %)

(18 %)

      Total operating expenses 

37,608

71 %

36,861

74 %

2 %

2 %

OPERATING INCOME 

15,353

29 %

13,093

26 %

17 %

16 %

Interest expense

(3,514)

(7 %)

(3,505)

(7 %)

0 %

0 %

Non-operating expenses, net

(98)

0 %

(462)

(1 %)

(79 %)

(80 %)

INCOME BEFORE INCOME TAXES

11,741

22 %

9,126

18 %

29 %

27 %

Provision for income taxes

(1,274)

(2 %)

(623)

(1 %)

105 %

103 %

NET INCOME 

$ 10,467

20 %

$    8,503

17 %

23 %

22 %

EARNINGS PER SHARE:

Basic

$      3.82

$      3.15

Diluted

$      3.71

$      3.07

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

Basic

2,744

2,696

Diluted

2,823

2,766

(1)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present
constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of
foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in
currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023,
which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods.
Movements in international currencies relative to the United States dollar during the year ended May 31, 2024 compared with the
corresponding prior year period increased our operating income by 1 percentage point.

 

 

ORACLE  CORPORATION

FISCAL 2024 YEAR TO DATE FINANCIAL RESULTS

RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) 

($ in millions, except per share data)

Year Ended May 31,

% Increase (Decrease)
in US $

% Increase (Decrease)
in Constant Currency (2) 

2024

2024

2023

2023

GAAP

Non-GAAP

GAAP

Non-GAAP

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

TOTAL REVENUES

$       52,961

$            –

$       52,961

$       49,954

$            –

$       49,954

6 %

6 %

6 %

6 %

TOTAL OPERATING EXPENSES

$       37,608

$   (7,702)

$       29,906

$       36,861

$   (7,809)

$       29,052

2 %

3 %

2 %

2 %

     Stock-based compensation (3)

3,974

(3,974)

–

3,547

(3,547)

–

12 %

*

12 %

*

     Amortization of intangible assets (4)

3,010

(3,010)

–

3,582

(3,582)

–

(16 %)

*

(16 %)

*

     Acquisition related and other

314

(314)

–

190

(190)

–

65 %

*

64 %

*

     Restructuring

404

(404)

–

490

(490)

–

(18 %)

*

(18 %)

*

OPERATING INCOME

$       15,353

$    7,702

$       23,055

$       13,093

$    7,809

$      20,902

17 %

10 %

16 %

10 %

OPERATING MARGIN %

29 %

44 %

26 %

42 %

278 bp.

169 bp.

271 bp.

169 bp.

INCOME TAX EFFECTS (5)

$        (1,274)

$   (2,459)

$        (3,733)

$           (623)

$   (2,136)

$       (2,759)

105 %

35 %

103 %

35 %

NET INCOME 

$       10,467

$    5,243

$       15,710

$         8,503

$    5,673

$      14,176

23 %

11 %

22 %

10 %

DILUTED EARNINGS PER SHARE

$           3.71

$           5.56

$           3.07

$          5.12

21 %

9 %

20 %

8 %

DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING

2,823

–

2,823

2,766

–

2,766

2 %

2 %

2 %

2 %

(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read
only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the
reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.

(2)

We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for
assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for
entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023, which was the last day of our prior
fiscal year, rather than the actual exchange rates in effect during the respective periods.

(3)

Stock-based compensation was included in the following GAAP operating expense categories:

Year Ended

Year Ended

May 31,
 2024

May 31,
 2023

GAAP

Adj.

Non-GAAP

GAAP

Adj.

Non-GAAP

     Cloud services and license support

$            525

$      (525)

$               –

$            435

$      (435)

$               –

     Hardware

23

(23)

–

18

(18)

–

     Services

167

(167)

–

137

(137)

–

     Sales and marketing

667

(667)

–

611

(611)

–

     Research and development

2,225

(2,225)

–

1,983

(1,983)

–

     General and administrative

367

(367)

–

363

(363)

–

           Total stock-based compensation

$         3,974

$   (3,974)

$               –

$         3,547

$   (3,547)

$               –

(4)

Estimated future annual amortization expense related to intangible assets as of May 31, 2024 was as follows:

     Fiscal 2025

$         2,303

     Fiscal 2026

1,639

     Fiscal 2027

672

     Fiscal 2028

635

     Fiscal 2029

561

     Thereafter

1,080

           Total intangible assets, net

$         6,890

(5)

Income tax effects were calculated reflecting an effective GAAP tax rate of 10.9% and 6.8% in fiscal 2024 and 2023, respectively, and an effective non-GAAP tax rate of 19.2% and 16.3% in fiscal
2024 and 2023, respectively. The difference in our GAAP and non-GAAP tax rates in each of fiscal 2024 and 2023 was primarily due to the net tax effects related to stock-based compensation
expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to an
income tax benefit that was previously recorded due to the partial realignment of our legal entity structure.

*

Not meaningful

 

 

 

ORACLE  CORPORATION

FISCAL 2024 FINANCIAL RESULTS

CONDENSED CONSOLIDATED BALANCE SHEETS

($ in millions)

May 31,

May 31,

2024

2023

ASSETS

Current Assets:

Cash and cash equivalents

$   10,454

$      9,765

Marketable securities

207

422

Trade receivables, net

7,874

6,915

Prepaid expenses and other current assets

4,019

3,902

Total Current Assets

22,554

21,004

Non-Current Assets:

   Property, plant and equipment, net

21,536

17,069

   Intangible assets, net

6,890

9,837

   Goodwill, net

62,230

62,261

   Deferred tax assets

12,273

12,226

   Other non-current assets

15,493

11,987

Total Non-Current Assets

118,422

113,380

TOTAL ASSETS

$ 140,976

$ 134,384

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:

Notes payable and other borrowings, current 

$   10,605

$      4,061

Accounts payable

2,357

1,204

Accrued compensation and related benefits

1,916

2,053

Deferred revenues

9,313

8,970

Other current liabilities

7,353

6,802

Total Current Liabilities

31,544

23,090

Non-Current Liabilities:

Notes payable and other borrowings, non-current

76,264

86,420

Income taxes payable

10,817

11,077

Deferred tax liabilities

3,692

5,772

Other non-current liabilities

9,420

6,469

Total Non-Current Liabilities

100,193

109,738

Stockholders’ Equity

9,239

1,556

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$ 140,976

$ 134,384

 

 

 

ORACLE  CORPORATION 

FISCAL 2024 FINANCIAL RESULTS

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

($ in millions)

Year Ended May 31,

2024

2023

Cash Flows From Operating Activities:

Net income 

$      10,467

$        8,503

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

3,129

2,526

Amortization of intangible assets

3,010

3,582

Deferred income taxes

(2,139)

(2,167)

Stock-based compensation

3,974

3,547

Other, net

720

661

Changes in operating assets and liabilities, net of effects from acquisitions:

Increase in trade receivables, net

(965)

(151)

Decrease in prepaid expenses and other assets

542

317

Decrease in accounts payable and other liabilities

(594)

(281)

Decrease in income taxes payable

(127)

(153)

Increase in deferred revenues

656

781

   Net cash provided by operating activities

18,673

17,165

Cash Flows From Investing Activities:

Purchases of marketable securities and other investments

(1,003)

(1,181)

Proceeds from sales and maturities of marketable securities and other investments

572

1,113

Acquisitions, net of cash acquired

(63)

(27,721)

Capital expenditures

(6,866)

(8,695)

   Net cash used for investing activities

(7,360)

(36,484)

Cash Flows From Financing Activities:

Payments for repurchases of common stock

(1,202)

(1,300)

Proceeds from issuances of common stock

742

1,192

Shares repurchased for tax withholdings upon vesting of restricted stock-based awards

(2,040)

(1,203)

Payments of dividends to stockholders

(4,391)

(3,668)

(Repayments of) proceeds from issuances of commercial paper, net

(167)

500

Proceeds from issuances of senior notes and other borrowings, net of issuance costs

–

33,494

Repayments of senior notes and other borrowings

(3,500)

(21,050)

Other, net

4

(55)

   Net cash (used for) provided by financing activities

(10,554)

7,910

Effect of exchange rate changes on cash and cash equivalents

(70)

(209)

Net increase (decrease) in cash and cash equivalents

689

(11,618)

Cash and cash equivalents at beginning of period

9,765

21,383

Cash and cash equivalents at end of period

$      10,454

$        9,765

 

 

 ORACLE  CORPORATION 

 FISCAL 2024 FINANCIAL RESULTS 

 FREE CASH FLOW – TRAILING 4-QUARTERS (1) 

 ($ in millions) 

 Fiscal 2023 

 Fiscal 2024 

 Q1 

 Q2 

 Q3 

 Q4 

 Q1 

 Q2 

 Q3 

 Q4 

GAAP Operating Cash Flow

$            10,542

$            15,073

$            15,503

$            17,165

$            17,745

$            17,039

$            18,239

$            18,673

Capital Expenditures

(5,168)

(6,678)

(8,205)

(8,695)

(8,290)

(6,935)

(5,981)

(6,866)

Free Cash Flow

$               5,374

$               8,395

$               7,298

$               8,470

$               9,455

$            10,104

$            12,258

$            11,807

Operating Cash Flow % Growth over prior year

(31 %)

47 %

49 %

80 %

68 %

13 %

18 %

9 %

Free Cash Flow % Growth over prior year

(57 %)

18 %

11 %

68 %

76 %

20 %

68 %

39 %

GAAP Net Income

$               5,808

$               8,797

$               8,373

$               8,503

$               9,375

$            10,137

$            10,642

$            10,467

Operating Cash Flow as a % of Net Income

182 %

171 %

185 %

202 %

189 %

168 %

171 %

178 %

Free Cash Flow as a % of Net Income

93 %

95 %

87 %

100 %

101 %

100 %

115 %

113 %

(1)   To supplement our statements of cash flows presented on a GAAP basis, we use non-GAAP measures of cash flows on a trailing 4-quarter basis to analyze cash flow generated from operations.
       We believe free cash flow is also useful as one of the bases for comparing our performance with our competitors. The presentation of non-GAAP free cash flow is not meant to be considered in
       isolation or as an alternative to net income as an indicator of our performance, or as an alternative to cash flows from operating activities as a measure of liquidity.

 

 

 ORACLE  CORPORATION 

 FISCAL 2024 FINANCIAL RESULTS 

 SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1) 

 ($ in millions) 

 Fiscal 2023 

 Fiscal 2024 

 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 

 Q1 

 Q2 

 Q3 

 Q4 

 TOTAL 

REVENUES BY OFFERINGS

 Cloud services 

$    3,579

$    3,813

$    4,053

$    4,437

$   15,881

$    4,635

$    4,775

$    5,054

$    5,311

$   19,774

 License support 

4,838

4,785

4,870

4,933

19,426

4,912

4,864

4,909

4,923

19,609

 Cloud services and license support 

8,417

8,598

8,923

9,370

35,307

9,547

9,639

9,963

10,234

39,383

 Cloud license and on-premise license 

904

1,435

1,288

2,152

5,779

809

1,178

1,256

1,838

5,081

 Hardware 

763

850

811

850

3,274

714

756

754

842

3,066

 Services  

1,361

1,392

1,376

1,465

5,594

1,383

1,368

1,307

1,373

5,431

                 Total revenues

$  11,445

$  12,275

$  12,398

$  13,837

$   49,954

$  12,453

$  12,941

$  13,280

$  14,287

$   52,961

AS REPORTED REVENUE GROWTH RATES 

Cloud services

45 %

43 %

45 %

54 %

47 %

30 %

25 %

25 %

20 %

25 %

License support

(1 %)

(2 %)

0 %

4 %

0 %

2 %

2 %

1 %

0 %

1 %

 Cloud services and license support 

14 %

14 %

17 %

23 %

17 %

13 %

12 %

12 %

9 %

12 %

 Cloud license and on-premise license 

11 %

16 %

0 %

(15 %)

(2 %)

(10 %)

(18 %)

(3 %)

(15 %)

(12 %)

 Hardware 

0 %

11 %

2 %

(1 %)

3 %

(6 %)

(11 %)

(7 %)

(1 %)

(6 %)

 Services  

74 %

74 %

74 %

76 %

75 %

2 %

(2 %)

(5 %)

(6 %)

(3 %)

          Total revenues

18 %

18 %

18 %

17 %

18 %

9 %

5 %

7 %

3 %

6 %

CONSTANT CURRENCY REVENUE GROWTH RATES (2)

Cloud services

50 %

48 %

48 %

55 %

50 %

29 %

24 %

24 %

20 %

24 %

License support

4 %

4 %

3 %

6 %

4 %

0 %

0 %

1 %

1 %

0 %

 Cloud services and license support  

20 %

20 %

20 %

25 %

21 %

12 %

11 %

11 %

10 %

11 %

 Cloud license and on-premise license 

19 %

23 %

4 %

(14 %)

2 %

(11 %)

(19 %)

(3 %)

(14 %)

(12 %)

 Hardware  

5 %

16 %

4 %

1 %

6 %

(8 %)

(12 %)

(7 %)

0 %

(7 %)

 Services  

84 %

83 %

80 %

78 %

81 %

1 %

(3 %)

(5 %)

(6 %)

(3 %)

          Total revenues 

23 %

25 %

21 %

18 %

22 %

8 %

4 %

7 %

4 %

6 %

CLOUD SERVICES AND LICENSE SUPPORT REVENUES

BY ECOSYSTEM

 Applications cloud services and license support 

$    4,016

$    4,080

$    4,166

$    4,390

$   16,651

$    4,471

$    4,474

$    4,584

$    4,642

$   18,172

 Infrastructure cloud services and license support 

4,401

4,518

4,757

4,980

18,656

5,076

5,165

5,379

5,592

21,211

          Total cloud services and license support revenues

$    8,417

$    8,598

$    8,923

$    9,370

$   35,307

$    9,547

$    9,639

$    9,963

$  10,234

$   39,383

AS REPORTED REVENUE GROWTH RATES 

 Applications cloud services and license support 

32 %

30 %

31 %

36 %

32 %

11 %

10 %

10 %

6 %

9 %

 Infrastructure cloud services and license support 

2 %

3 %

7 %

14 %

6 %

15 %

14 %

13 %

12 %

14 %

          Total cloud services and license support revenues

14 %

14 %

17 %

23 %

17 %

13 %

12 %

12 %

9 %

12 %

CONSTANT CURRENCY REVENUE GROWTH RATES (2)

 Applications cloud services and license support 

37 %

35 %

33 %

37 %

35 %

11 %

9 %

10 %

6 %

9 %

 Infrastructure cloud services and license support 

7 %

9 %

10 %

15 %

10 %

14 %

12 %

13 %

13 %

13 %

          Total cloud services and license support revenues

20 %

20 %

20 %

25 %

21 %

12 %

11 %

11 %

10 %

11 %

GEOGRAPHIC REVENUES

 Americas 

$    7,192

$    7,786

$    7,671

$    8,577

$   31,226

$    7,841

$    8,067

$    8,270

$    8,945

$   33,122

 Europe/Middle East/Africa 

2,691

2,895

3,067

3,457

12,109

3,005

3,170

3,316

3,539

13,030

 Asia Pacific 

1,562

1,594

1,660

1,803

6,619

1,607

1,704

1,694

1,803

6,809

          Total revenues

$  11,445

$  12,275

$  12,398

$  13,837

$   49,954

$  12,453

$  12,941

$  13,280

$  14,287

$   52,961

(1)   The sum of the quarterly information presented may vary from the year-to-date information presented due to rounding.

(2)   We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how
       our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies
       other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2023 and 2022 for the fiscal 2024 and fiscal 2023 constant currency growth rate calculations
       presented, respectively, rather than the actual exchange rates in effect during the respective periods.

 

APPENDIX A

ORACLE CORPORATION
Q4 FISCAL 2024 FINANCIAL RESULTS
EXPLANATION OF NON-GAAP MEASURES

To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude certain business combination accounting entries and expenses related to acquisitions, as well as other significant expenses including stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on these non-GAAP measures. Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects:

Stock-based compensation expenses: We have excluded the effect of stock-based compensation expenses from our non-GAAP operating expenses, income tax effects and net income measures. Although stock-based compensation is a key incentive offered to our employees, and we believe such compensation contributed to the revenues earned during the periods presented and also believe it will contribute to the generation of future period revenues, we continue to evaluate our business performance excluding stock-based compensation expenses. Stock-based compensation expenses will recur in future periods.Amortization of intangible assets: We have excluded the effect of amortization of intangible assets from our non-GAAP operating expenses, income tax effects and net income measures. Amortization of intangible assets is inconsistent in amount and frequency and is significantly affected by the timing and size of our acquisitions. Investors should note that the use of intangible assets contributed to our revenues earned during the periods presented and will contribute to our future period revenues as well. Amortization of intangible assets will recur in future periods.Acquisition related and other expenses; and restructuring expenses: We have excluded the effect of acquisition related and other expenses and the effect of restructuring expenses from our non-GAAP operating expenses, income tax effects and net income measures. We incurred expenses in connection with our acquisitions and also incurred certain other operating expenses or income, which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. Acquisition related and other expenses consisted of personnel related costs for transitional and certain other employees, certain business combination adjustments including certain adjustments after the measurement period has ended, and certain other operating items, net. Restructuring expenses consisted of employee severance and other exit costs. We believe it is useful for investors to understand the effects of these items on our total operating expenses. Although acquisition related and other expenses and restructuring expenses may diminish over time with respect to past acquisitions and/or strategic initiatives, we generally will incur certain of these expenses in connection with any future acquisitions and/or strategic initiatives.

 

View original content:https://www.prnewswire.com/news-releases/oracle-announces-fiscal-2024-fourth-quarter-and-fiscal-full-year-financial-results-302169918.html

SOURCE Oracle Corporation

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Kuaishou Technology to Report 2026 First Quarter Financial Results on May 27, 2026

Published

47 minutes ago

on

May 6, 2026

By

HONG KONG, May 6, 2026 /PRNewswire/ — Kuaishou Technology (“Kuaishou” or the “Company”; HKD Counter Stock Code: 01024 / RMB Counter Stock Code: 81024), a leading content community and social platform, today announced that it will report its unaudited consolidated first quarterly results for the three months ended March 31, 2026, after the Hong Kong market closes on Wednesday, May 27, 2026.

The Company’s management will host a conference call on Wednesday, May 27, 2026, at 7:00 PM Beijing Time (7:00 AM U.S. Eastern Time) to discuss the results.

Participants are required to pre-register for the conference call at:

Chinese Line (Mandarin):
https://s1.c-conf.com/diamondpass/10054245-xi6ksd.html

English Simultaneous Interpretation Line (listen-only mode):
https://s1.c-conf.com/diamondpass/10054246-wl3yqp.html

Participants can choose between the Chinese and English simultaneous interpretation options for pre-registration above. Please note that the English simultaneous interpretation option will be in listen-only mode. Upon registration, participants will receive an email containing conference call dial-in details, event passcode, and a unique registrant ID. This information will allow you to gain immediate access to the call. Participants may pre-register at any time, including up to and after the call start time.

Additionally, live, and archived webcasts of the conference call, for both Chinese and English simultaneous interpretation, will be available on the Company’s investor relations website at https://ir.kuaishou.com.

Replays of the conference call will be available until June 3, 2026 via the following dial-in details:

Dial-in Numbers

Mainland China:

400 1209 216

Hong Kong:

800 930 639

US/Canada:

1855 883 1031

Chinese conference ID:

10054245

English simultaneous interpretation conference ID:

10054246

About Kuaishou

Kuaishou is a leading content community and social platform in China and globally, committed to becoming the most customer-obsessed company in the world. Kuaishou uses its technological backbone, powered by cutting-edge AI technology, to continuously drive innovation and product enhancements that enrich its service offerings and application scenarios, creating exceptional customer value. Through short videos and live streams on Kuaishou’s platform, users can share their lives, discover goods and services they need and showcase their talent. By partnering closely with content creators and businesses, Kuaishou provides technologies, products, and services that cater to diverse user needs across a broad spectrum of entertainment, online marketing services, e-commerce, local services, gaming, and much more. For more information, please visit https://ir.kuaishou.com.

For investor and media inquiries, please contact:

Kuaishou Technology
Investor Relations
Email: ir@kuaishou.com

View original content:https://www.prnewswire.com/news-releases/kuaishou-technology-to-report-2026-first-quarter-financial-results-on-may-27-2026-302763955.html

SOURCE Kuaishou Technology

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Mox Breaks Even in Q1 2026 amid Strengthening Profitability Outlook, Launches Mox+ Wealth Solutions and Mox Invest Upgrades

Published

2 hours ago

on

May 6, 2026

By

Bringing Wealth Within Reach of all in Hong Kong

HONG KONG, May 6, 2026 /PRNewswire/ — Mox Bank Limited (“Mox” or “the Bank”), on the back of delivering a financial breakeven quarter for Q1 2026, today announced the launch of Mox+. This wealth solution is engineered for Hong Kong’s young professionals and emerging affluent and will be a driver of sustainable profitability for the Bank. Mox+ combines wealth capabilities with curated lifestyle benefits, marking Mox’s evolution from everyday banking to a comprehensive wealth partnership.

The financial achievement was driven by robust momentum across all business lines and achieving a significant milestone demonstrates the success of the accessible business model which after 5 years is now used and valued by over 750,000 customers in Hong Kong.

Barbaros Uygun, CEO of Mox, said, “Achieving financial breakeven for the first quarter of 2026 on the back of a strong 2025 set of results, shows our direction of travel. We have the momentum to drive positive change, providing wealth opportunities to all in Hong Kong and do so in a profitable manner. Our client-centric business model is proving that it is the right one for sustainable profitability. 

Our digital wealth management platform serves as a trusted partner for our over 750,000 customers at every stage of life, empowering them to manage their finances with confidence and unlock new possibilities. We are entering a new chapter of growth as we continue to expand our product portfolio and wealth management offerings, with the launch of Mox+ being one such initiative.”

He continued, “To support this evolution, we are evolving into an AI-native bank, doubling our operational capacity through a strategic human-bot partnership, equipping every staff member with a personalised AI assistant to deliver even greater service and efficiency.”

Mox+ members enjoy preferential fees and charges on Mox Invest and preferential pricing on foreign exchange, enhanced deposit rates (3.5% p.a. up to HKD5 million), as well as priority customer support and early access to experiences and new products. These benefits can be gained simply by maintaining an average daily balance of HKD 600,000 or above across all deposits and investments which will lead to automatic qualification for Mox+ for the following month. The programme integrates financial advantages with lifestyle benefits—including curated dining rebates, free hotel stays, Starbucks coffee vouchers, health benefits and exclusive member experiences—reflecting Mox’s belief that wealth building should be both strategic and rewarding.

Jayant Bhatia, Chief Business Officer of Mox, commented, “At Mox, we are dedicated to establishing the financial well-being of Hongkongers. Designed and tailored for Hong Kong’s young professionals and emerging affluent segment, which is underserved in Hong Kong, Mox+ offers solutions for daily savings and preferential wealth management service fees for long-term wealth creation as well as rewarding lifestyle benefits. This is strategically significant as one of our key initiatives to drive business growth and make Wealth Within Reach for Hongkongers.”

Throughout 2025, Mox has already strengthened its product portfolio with new solutions in Mox Invest. The Mox Invest platform saw trading volumes increasing to 2.4 times and assets under management (AUM) growing to 2.6 times that of last year. More than 10% of Mox customers have opened a Mox Invest account, reflecting strong demand for its wealth solutions driven by new products and services. In 2026, we will continue our momentum in launching new and innovative products and services and are already scaling up to serve the next generation of wealth builders in Hong Kong. Having already recently launched a crypto trading service, Mox Invest is set to introduce an IPO subscription service later this year.

The Bank has clear reasons for continuing to develop wealth management products. The “Wealth Behaviours: Insights into how individuals are saving and investing” survey conducted by Mox in collaboration with Ipsos revealed that Hongkongers continue to take a conservative approach to investing, with 63% of their liquid assets kept in cash and deposits – a trend that contributes to “cash drag” and limits potential wealth growth. More than two-thirds of respondents indicated they require an average of 5.6 months to save up to their desired investment threshold and typically delay investing their savings by a further 2.75 months on average, resulting in missed opportunities for long-term wealth accumulation[1]. This survey will continue as an ongoing research initiative to deepen our understanding of Hongkonger’s wealth management behaviours and enable the Bank to develop tailored solutions that puts wealth within reach.

After Mox was amongst the first wave of banks in Asia to offer a crypto trading service, Mox Invest now further offers One Click Investments (a simplified process for buying equities based on themes such as AI, technology, amongst others), Trading Signals, and gives customers access to professional  fund strategies including Signature CIO funds developed in partnership between Standard Chartered Bank CIO office and Amundi. The Signature CIO funds offer four different type of funds based on individuals’ risk appetite which could be Conservative, Income, Balanced or Growth. Customers also have options amongst a wide range of funds offered by other world-class fund houses.

A Track Record of Rapid Scale and Adoption in the Last 5 Years

Since its launch in September 2020, Mox has brought to the market more than 15 market-first products or services and achieved significant scale with over 750,000 customers, reflecting the trust and growing preference of Hong Kong consumers for a seamless digital banking experience. To date, Mox customers have driven a cumulative spend of HKD70 billion, supported by a robust volume of 176 million card transactions and approximately 2 billion Asia Miles earned through Mox Card and other banking services. Its commitment to delivering tangible value to customers is further evidenced by the HKD2 billion distributed in cash rewards.

Beyond daily spending, Mox has become central to its customers’ financial lives, facilitating approximately 50 million outward FPS transfers and more than 5 million bill payments. As a preferred companion for travelers, the Mox Card has been used over 31 million times in overseas transactions, contributing to a total of 250 million app engagements as we continue to redefine digital banking for the Hong Kong community.

To learn more about Mox, please visit: mox.com.

About Mox Bank Limited (“Mox”) 
Mox is a pioneering digital bank licensed in Hong Kong, and a registered institution (CE number: BNO808) powered by Standard Chartered in partnership with PCCW, HKT and Trip.com. Launched in September 2020, Mox is reimagining banking, unlock more of life’s possibilities, and setting global benchmarks for digital banking from Hong Kong.   

Mox is well on track to be the number one digital bank for cards, lending and wealth. In 2026, it was awarded as Best Pure-Play Digital Bank for CX in Hong Kong and Outstanding Digital CX in Banking App/ Platform by The Digital Banker Digital CX Awards. It was also recognised as NeoBank of the Year, Retail Banking, Hong Kong and Best Retail Banking Experience, Hong Kong by The Asset Triple A Digital Finance Awards. In 2025, Mox is ranked as the number one digital bank in Hong Kong in Neobank Ranking 2025 by The Banker, a publication by Financial Times. It was also awarded the Best Digital Bank in Hong Kong by The Asian Banker for three consecutive years, and the Digital Bank of the Year in Hong Kong by Asian Banking & Finance for two years in a row. It was also recognised as one of Asia’s Top 5 mobile banking app and the number one Hong Kong digital banking app in Sia Partners’ 2025 International Mobile Banking Benchmark. Mox Credit Card held its position as the seventh-largest credit card portfolio among all retail banks in Hong Kong[2]. Through a scalable platform, lower cost-to-serve, top-notch customer experience and the unique promise of safe, simple, smart, and fun banking, Mox has found immense affinity among Hong Kong customers: Mox app is the top-rated Hong Kong digital banking app in Apple App Store in Hong Kong[3], scoring 4.8 out of 5. Mox’s influence extends beyond Hong Kong, as shown by the company’s technology and know-how being transferred to Trust Bank in Singapore. 

Join us in shaping the future of banking.

Follow Mox on mox.com, Facebook, Instagram, Threads, LinkedIn and YouTube for our latest updates.

[1] The “Wealth Behaviours: Insights into how individuals are saving and investing” study was conducted in collaboration with Ipsos and it surveyed 2,500 working adults with a monthly household income above HKD15,000 in Hong Kong between August 2025 and April 2026.

[2] According to TransUnion’s Market Insights and Intelligence Dashboard (MIID) for the period from January to December 2025.

[3] As of the period from 28 January 2025 to 5 May 2026.

 

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SOURCE Mox Bank Limited

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UK Students Recognised in National AI Investment Challenge

Published

2 hours ago

on

May 6, 2026

By

University teams apply AI to real-world investment problems, with Lancaster University team taking the top prize.

LONDON, May 6, 2026 /PRNewswire/ — CFA Institute, the global association of investment professionals, has announced the winner of its inaugural AI Investment Challenge, with the top prize awarded to a student team from Lancaster University.

Some 28 teams from 15 universities took part in the competition.

Delivered by CFA Institute and CFA Society UK, the competition brought together students from universities across the United Kingdom to tackle real investment challenges using artificial intelligence. The focus was on practical application, responsible use, and real-world relevance. 

Finalists came from Durham University, Heriot-Watt University, Lancaster University, University of Exeter, and University of Manchester. 

Teams presented AI-powered solutions to a range of industry challenges, from assessing how carbon pricing affects portfolio values to analysing large volumes of company disclosures and extracting insights from company earnings calls. The winning team from Lancaster University impressed judges with its design of a Disclosure Degradation Detection System – an early-alert tool for analysts that monitors upstream exposure to disclosure risk by analysing company and supplier filings for increasingly vague, complex, or weakening language.

Peter Watkins, Head of University Relations, CFA Institute, said:

“It’s encouraging to see how quickly students can apply technical skills to real investment problems. The strongest teams combined solid analysis with a clear understanding of how AI can be used responsibly in practice. This reflects where the investment industry is heading, with professionals expected to use new technologies effectively while continuing to apply sound human judgement.”

Nick Bartlett, CFA, ASIP, Chief Executive, CFA Society UK, adds:

“It’s been great to see students from across the UK take part. Opportunities like this help people build practical skills, make connections in the industry, and gain confidence in applying what they’ve learned. Bridging that gap between education and industry is increasingly important, as the skills needed for a career in the investment profession continue to evolve.” 

The winning team members from Lancaster University are Connor O’Keeffe, Ebro Dossajee, and Bradley McCann.  

Connor O’Keeffe, speaking on behalf of the winning team, said: 

“The CFA Institute AI Investment Challenge gave us the chance to work on a real investment problem and engage directly with industry professionals. Presenting our work and receiving feedback has been invaluable, and we’re proud to bring first place back to Lancaster. It’s been a great experience for the whole team.”

Steve Young, Professor of Accounting at Lancaster University Management School, commented:

“The AI Investment Challenge is a fabulous initiative from CFA Institute that helps students formulate and execute artificial intelligence solutions to assist investment analysis professionals, and we are thrilled that Brad, Connor, and Ebro have been able to make such a positive contribution to the competition. Congratulations to all teams involved and thank you to CFA Institute and CFA Society UK for organising such an inspiring event.” 

The competition was judged on practical relevance, quality of analysis, innovation in the use of AI, responsible use of technology, and clarity of presentation. The final was judged by a panel of six investment industry professionals based in the UK. 

University representatives and students can opt-in to be the first to hear about future AI Investment Challenge events via Information Waitlist.

Notes to Editors

The AI Investment Challenge was held on Thursday 30 April 2026 in London.

First, second, and third-place teams received prizes of £2,000, £1,200, and £800, respectively. In addition, all finalist team members received a CFA Program Access Scholarship and the opportunity to showcase their work on CFA Institute platforms. 

More information about the AI Investment Challenge is available here: CFA Institute AI Investment Challenge. 

About CFA Institute
As the global association of investment professionals, CFA Institute sets the standard for professional excellence and credentials. We champion ethical behavior in investment markets and serve as the leading source of learning and research for the investment industry. We believe in fostering an environment where investors’ interests come first, markets function at their best, and economies grow. With more than 200,000 charterholders worldwide across 160 markets, CFA Institute has 8 offices and 157 local societies. Find us at www.cfainstitute.org or follow us on LinkedIn, and subscribe on YouTube.

View original content:https://www.prnewswire.co.uk/news-releases/uk-students-recognised-in-national-ai-investment-challenge-302762959.html

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