Technology
Oracle Announces Fiscal 2025 Second Quarter Financial Results
Published
2 years agoon
By
Q2 GAAP Earnings per Share up 24% to $1.10, Non-GAAP Earnings per Share up 10% to $1.47Q2 Total Revenue $14.1 billion, up 9% in both USD and constant currencyQ2 Total Remaining Performance Obligations $97 billion, up 49% in USD & 50% in constant currencyQ2 Cloud Revenue (IaaS plus SaaS) $5.9 billion, up 24% in both USD and constant currencyQ2 Cloud Infrastructure (IaaS) Revenue $2.4 billion, up 52% in both USD and constant currencyQ2 Cloud Application (SaaS) Revenue $3.5 billion, up 10% in both USD and constant currencyQ2 Fusion Cloud ERP (SaaS) Revenue $0.9 billion, up 18% in both USD and constant currencyQ2 NetSuite Cloud ERP (SaaS) Revenue $0.9 billion, up 20% in USD and 19% in constant currency
AUSTIN, Texas, Dec. 9, 2024 /PRNewswire/ — Oracle Corporation (NYSE: ORCL) today announced fiscal 2025 Q2 results. Total quarterly revenues were up 9% year-over-year, in both USD and constant currency, to $14.1 billion. Cloud services and license support revenues were up 12% year-over-year, in both USD and constant currency, to $10.8 billion. Cloud license and on-premise license revenues were up 1% in USD and up 3% in constant currency, to $1.2 billion.
Q2 GAAP operating income was $4.2 billion. Non-GAAP operating income was $6.1 billion, up 10% in both USD and constant currency. GAAP operating margin was 30%, and non-GAAP operating margin was 43%. GAAP net income was $3.2 billion. Non-GAAP net income was $4.2 billion, up 12% in both USD and constant currency. Q2 GAAP earnings per share was $1.10, up 24% in USD and up 23% in constant currency, while non-GAAP earnings per share was $1.47, up 10% in both USD and constant currency.
Short-term deferred revenues were $9.4 billion. Over the last twelve months, operating cash flow was $20.3 billion and free cash flow was $9.5 billion.
“Record level AI demand drove Oracle Cloud Infrastructure revenue up 52% in Q2, a much higher growth rate than any of our hyperscale cloud infrastructure competitors,” said Oracle CEO, Safra Catz. “Growth in the AI segment of our Infrastructure business was extraordinary—GPU consumption was up 336% in the quarter—and we delivered the world’s largest and fastest AI SuperComputer scaling up to 65,000 NVIDIA H200 GPUs. With our remaining performance obligation (RPO) up 50% to $97 billion, we believe our already impressive growth rates will continue to climb even higher. This fiscal year, total Oracle Cloud revenue should top $25 billion.”
“Oracle Cloud Infrastructure trains several of the world’s most important generative AI models because we are faster and less expensive than other clouds,” said Oracle Chairman and CTO, Larry Ellison. “And we just signed an agreement with Meta—for them to use Oracle’s AI Cloud Infrastructure—and collaborate with Oracle on the development of AI Agents based on Meta’s Llama models. The Oracle Cloud trains dozens of specialized AI models and embeds hundreds of AI Agents in cloud applications. For example, Oracle’s AI Agents automate drug design, image and genomic analysis for cancer diagnostics, audio updates to electronic health records for patient care, satellite image analysis to predict and improve agricultural output, fraud and money laundering detection, dual-factor biometric computer logins, and real time video weapons detection in schools. Oracle trained AI models and AI Agents will improve the rate of scientific discovery, economic development and corporate growth throughout the world. The scale of the opportunity is unimaginable.”
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 January 9, 2025, with a payment date of January 23, 2025.
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 the expectations for converting the Remaining Performance Obligations to revenue, future total Oracle Cloud revenue this fiscal year and the scale of opportunity for Oracle trained AI models and AI Agents, 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, including our AI products; our management of complex cloud and hardware offerings, including the sourcing of technologies and technology components; our ability to secure data center capacity; 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 December 9, 2024. Oracle undertakes no duty to update any statement in light of new information or future events.
ORACLE CORPORATION
Q2 FISCAL 2025 FINANCIAL RESULTS
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
($ in millions, except per share data)
Three Months Ended November 30,
% Increase
% Increase
(Decrease)
% of
% of
(Decrease)
in Constant
2024
Revenues
2023
Revenues
in US $
Currency (1)
REVENUES
Cloud services and license support
$ 10,806
77 %
$ 9,639
74 %
12 %
12 %
Cloud license and on-premise license
1,195
9 %
1,178
9 %
1 %
3 %
Hardware
728
5 %
756
6 %
(4 %)
(3 %)
Services
1,330
9 %
1,368
11 %
(3 %)
(3 %)
Total revenues
14,059
100 %
12,941
100 %
9 %
9 %
OPERATING EXPENSES
Cloud services and license support
2,746
19 %
2,274
17 %
21 %
21 %
Hardware
172
1 %
213
2 %
(20 %)
(19 %)
Services
1,167
8 %
1,253
10 %
(7 %)
(7 %)
Sales and marketing
2,190
16 %
2,093
16 %
5 %
5 %
Research and development
2,471
18 %
2,226
17 %
11 %
11 %
General and administrative
387
3 %
375
3 %
3 %
3 %
Amortization of intangible assets
591
4 %
755
6 %
(22 %)
(22 %)
Acquisition related and other
31
0 %
47
0 %
(34 %)
(33 %)
Restructuring
84
1 %
83
1 %
0 %
1 %
Total operating expenses
9,839
70 %
9,319
72 %
6 %
6 %
OPERATING INCOME
4,220
30 %
3,622
28 %
17 %
16 %
Interest expense
(866)
(6 %)
(888)
(7 %)
(3 %)
(3 %)
Non-operating income (expenses), net
36
0 %
(14)
0 %
*
*
INCOME BEFORE INCOME TAXES
3,390
24 %
2,720
21 %
25 %
24 %
Provision for income taxes
239
2 %
217
2 %
11 %
10 %
NET INCOME
$ 3,151
22 %
$ 2,503
19 %
26 %
26 %
EARNINGS PER SHARE:
Basic
$ 1.13
$ 0.91
Diluted
$ 1.10
$ 0.89
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic
2,790
2,746
Diluted
2,869
2,817
(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, 2024, 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 November 30, 2024 compared with the corresponding prior year period increased our operating income by 1 percentage point.
*
Not meaningful
ORACLE CORPORATION
Q2 FISCAL 2025 FINANCIAL RESULTS
RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1)
($ in millions, except per share data)
Three Months Ended November 30,
% 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
$ 14,059
$ –
$ 14,059
$ 12,941
$ –
$ 12,941
9 %
9 %
9 %
9 %
TOTAL OPERATING EXPENSES
$ 9,839
$ (1,876)
$ 7,963
$ 9,319
$ (1,914)
$ 7,405
6 %
8 %
6 %
8 %
Stock-based compensation (3)
1,170
(1,170)
–
1,029
(1,029)
–
14 %
*
14 %
*
Amortization of intangible assets (4)
591
(591)
–
755
(755)
–
(22 %)
*
(22 %)
*
Acquisition related and other
31
(31)
–
47
(47)
–
(34 %)
*
(33 %)
*
Restructuring
84
(84)
–
83
(83)
–
0 %
*
1 %
*
OPERATING INCOME
$ 4,220
$ 1,876
$ 6,096
$ 3,622
$ 1,914
$ 5,536
17 %
10 %
16 %
10 %
OPERATING MARGIN %
30 %
43 %
28 %
43 %
203 bp.
58 bp.
196 bp.
52 bp.
INCOME TAX EFFECTS (5)
$ 239
$ 820
$ 1,059
$ 217
$ 655
$ 872
11 %
22 %
10 %
21 %
NET INCOME
$ 3,151
$ 1,056
$ 4,207
$ 2,503
$ 1,259
$ 3,762
26 %
12 %
26 %
12 %
DILUTED EARNINGS PER SHARE
$ 1.10
$ 1.47
$ 0.89
$ 1.34
24 %
10 %
23 %
10 %
DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING
2,869
–
2,869
2,817
–
2,817
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, 2024, 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
November 30, 2024
November 30, 2023
GAAP
Adj.
Non-GAAP
GAAP
Adj.
Non-GAAP
Cloud services and license support
$ 158
$ (158)
$ –
$ 137
$ (137)
$ –
Hardware
8
(8)
–
6
(6)
–
Services
53
(53)
–
45
(45)
–
Sales and marketing
195
(195)
–
174
(174)
–
Research and development
657
(657)
–
573
(573)
–
General and administrative
99
(99)
–
94
(94)
–
Total stock-based compensation
$ 1,170
$ (1,170)
$ –
$ 1,029
$ (1,029)
$ –
(4)
Estimated future annual amortization expense related to intangible assets as of November 30, 2024 was as follows:
Remainder of fiscal 2025
$ 1,092
Fiscal 2026
1,639
Fiscal 2027
672
Fiscal 2028
635
Fiscal 2029
561
Fiscal 2030
522
Thereafter
558
Total intangible assets, net
$ 5,679
(5)
Income tax effects were calculated reflecting an effective GAAP tax rate of 7.1% and 8.0% in the second quarter of fiscal 2025 and 2024, respectively, and an effective non-GAAP tax rate of 20.1% and 18.8% in the second quarter of fiscal 2025 and 2024, respectively. The difference in our GAAP and non-GAAP tax rates in each of the second quarters of fiscal 2025 and 2024 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
Q2 FISCAL 2025 YEAR TO DATE FINANCIAL RESULTS
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
($ in millions, except per share data)
Six Months Ended November 30,
% Increase
% Increase
(Decrease)
% of
% of
(Decrease)
in Constant
2024
Revenues
2023
Revenues
in US $
Currency (1)
REVENUES
Cloud services and license support
$ 21,324
78 %
$ 19,186
75 %
11 %
11 %
Cloud license and on-premise license
2,065
8 %
1,987
8 %
4 %
5 %
Hardware
1,383
5 %
1,470
6 %
(6 %)
(5 %)
Services
2,594
9 %
2,751
11 %
(6 %)
(5 %)
Total revenues
27,366
100 %
25,394
100 %
8 %
8 %
OPERATING EXPENSES
Cloud services and license support
5,344
20 %
4,452
18 %
20 %
20 %
Hardware
333
1 %
432
2 %
(23 %)
(22 %)
Services
2,314
8 %
2,465
10 %
(6 %)
(6 %)
Sales and marketing
4,226
15 %
4,118
16 %
3 %
3 %
Research and development
4,777
18 %
4,442
17 %
8 %
8 %
General and administrative
745
3 %
769
3 %
(3 %)
(3 %)
Amortization of intangible assets
1,215
4 %
1,518
6 %
(20 %)
(20 %)
Acquisition related and other
44
0 %
58
0 %
(25 %)
(25 %)
Restructuring
157
1 %
222
1 %
(29 %)
(29 %)
Total operating expenses
19,155
70 %
18,476
73 %
4 %
4 %
OPERATING INCOME
8,211
30 %
6,918
27 %
19 %
19 %
Interest expense
(1,708)
(6 %)
(1,760)
(7 %)
(3 %)
(3 %)
Non-operating income (expenses), net
57
0 %
(63)
0 %
*
*
INCOME BEFORE INCOME TAXES
6,560
24 %
5,095
20 %
29 %
30 %
Provision for income taxes
480
2 %
172
1 %
179 %
181 %
NET INCOME
$ 6,080
22 %
$ 4,923
19 %
24 %
24 %
EARNINGS PER SHARE:
Basic
$ 2.19
$ 1.80
Diluted
$ 2.13
$ 1.75
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic
2,775
2,737
Diluted
2,860
2,820
(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, 2024, 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 six months ended November 30, 2024 compared with the corresponding prior year period had no impact to our total revenues, total operating expenses and operating income.
*
Not meaningful
ORACLE CORPORATION
Q2 FISCAL 2025 YEAR TO DATE FINANCIAL RESULTS
RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1)
($ in millions, except per share data)
Six Months Ended November 30,
% 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
$ 27,366
$ –
$ 27,366
$ 25,394
$ –
$ 25,394
8 %
8 %
8 %
8 %
TOTAL OPERATING EXPENSES
$ 19,155
$ (3,592)
$ 15,563
$ 18,476
$ (3,676)
$ 14,800
4 %
5 %
4 %
6 %
Stock-based compensation (3)
2,176
(2,176)
–
1,878
(1,878)
–
16 %
*
16 %
*
Amortization of intangible assets (4)
1,215
(1,215)
–
1,518
(1,518)
–
(20 %)
*
(20 %)
*
Acquisition related and other
44
(44)
–
58
(58)
–
(25 %)
*
(25 %)
*
Restructuring
157
(157)
–
222
(222)
–
(29 %)
*
(29 %)
*
OPERATING INCOME
$ 8,211
$ 3,592
$ 11,803
$ 6,918
$ 3,676
$ 10,594
19 %
11 %
19 %
12 %
OPERATING MARGIN %
30 %
43 %
27 %
42 %
276 bp.
141 bp.
279 bp.
140 bp.
INCOME TAX EFFECTS (5)
$ 480
$ 1,500
$ 1,980
$ 172
$ 1,478
$ 1,650
179 %
20 %
181 %
21 %
NET INCOME
$ 6,080
$ 2,092
$ 8,172
$ 4,923
$ 2,198
$ 7,121
24 %
15 %
24 %
15 %
DILUTED EARNINGS PER SHARE
$ 2.13
$ 2.86
$ 1.75
$ 2.53
22 %
13 %
23 %
14 %
DILUTED WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING
2,860
–
2,860
2,820
–
2,820
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, 2024, 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:
Six Months Ended
Six Months Ended
November 30, 2024
November 30, 2023
GAAP
Adj.
Non-GAAP
GAAP
Adj.
Non-GAAP
Cloud services and license support
$ 299
$ (299)
$ –
$ 248
$ (248)
$ –
Hardware
14
(14)
–
11
(11)
–
Services
96
(96)
–
78
(78)
–
Sales and marketing
356
(356)
–
309
(309)
–
Research and development
1,226
(1,226)
–
1,057
(1,057)
–
General and administrative
185
(185)
–
175
(175)
–
Total stock-based compensation
$ 2,176
$ (2,176)
$ –
$ 1,878
$ (1,878)
$ –
(4)
Estimated future annual amortization expense related to intangible assets as of November 30, 2024 was as follows:
Remainder of fiscal 2025
$ 1,092
Fiscal 2026
1,639
Fiscal 2027
672
Fiscal 2028
635
Fiscal 2029
561
Fiscal 2030
522
Thereafter
558
Total intangible assets, net
$ 5,679
(5)
Income tax effects were calculated reflecting an effective GAAP tax rate of 7.3% and 3.4% in the first half of fiscal 2025 and 2024, respectively, and an effective non-GAAP tax rate of 19.5% and 18.8% in the first half of fiscal 2025 and 2024, respectively. The difference in our GAAP and non-GAAP tax rates in each of the first half of fiscal 2025 and 2024 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
Q2 FISCAL 2025 FINANCIAL RESULTS
CONDENSED CONSOLIDATED BALANCE SHEETS
($ in millions)
November 30,
May 31,
2024
2024
ASSETS
Current Assets:
Cash and cash equivalents
$ 10,941
$ 10,454
Marketable securities
370
207
Trade receivables, net
8,177
7,874
Prepaid expenses and other current assets
4,015
4,019
Total Current Assets
23,503
22,554
Non-Current Assets:
Property, plant and equipment, net
26,432
21,536
Intangible assets, net
5,679
6,890
Goodwill, net
62,204
62,230
Deferred tax assets
11,984
12,273
Other non-current assets
18,681
15,493
Total Non-Current Assets
124,980
118,422
TOTAL ASSETS
$ 148,483
$ 140,976
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Notes payable and other borrowings, current
$ 8,162
$ 10,605
Accounts payable
2,679
2,357
Accrued compensation and related benefits
1,653
1,916
Deferred revenues
9,430
9,313
Other current liabilities
7,128
7,353
Total Current Liabilities
29,052
31,544
Non-Current Liabilities:
Notes payable and other borrowings, non-current
80,462
76,264
Income taxes payable
9,553
10,817
Deferred tax liabilities
2,864
3,692
Other non-current liabilities
12,316
9,420
Total Non-Current Liabilities
105,195
100,193
Stockholders’ Equity
14,236
9,239
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$ 148,483
$ 140,976
ORACLE CORPORATION
Q2 FISCAL 2025 FINANCIAL RESULTS
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
($ in millions)
Six Months Ended November 30,
2024
2023
Cash Flows From Operating Activities:
Net income
$ 6,080
$ 4,923
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
1,712
1,510
Amortization of intangible assets
1,215
1,518
Deferred income taxes
(601)
(1,049)
Stock-based compensation
2,176
1,878
Other, net
298
331
Changes in operating assets and liabilities:
(Increase) decrease in trade receivables, net
(451)
145
Decrease in prepaid expenses and other assets
676
301
Decrease in accounts payable and other liabilities
(1,143)
(1,048)
Decrease in income taxes payable
(1,685)
(1,541)
Increase in deferred revenues
454
149
Net cash provided by operating activities
8,731
7,117
Cash Flows From Investing Activities:
Purchases of marketable securities and other investments
(636)
(515)
Proceeds from sales and maturities of marketable securities and other investments
356
157
Acquisitions, net of cash acquired
–
(59)
Capital expenditures
(6,273)
(2,394)
Net cash used for investing activities
(6,553)
(2,811)
Cash Flows From Financing Activities:
Payments for repurchases of common stock
(300)
(600)
Proceeds from issuances of common stock
307
426
Shares repurchased for tax withholdings upon vesting of restricted stock-based awards
(898)
(1,733)
Payments of dividends to stockholders
(2,221)
(2,190)
(Repayments of) proceeds from issuances of commercial paper, net
(396)
1,749
Proceeds from issuances of senior notes and term loan credit agreements, net of issuance costs
11,837
–
Repayments of senior notes and term loan credit agreements
(9,700)
(3,500)
Other, net
(276)
31
Net cash used for financing activities
(1,647)
(5,817)
Effect of exchange rate changes on cash and cash equivalents
(44)
(10)
Net increase (decrease) in cash and cash equivalents
487
(1,521)
Cash and cash equivalents at beginning of period
10,454
9,765
Cash and cash equivalents at end of period
$ 10,941
$ 8,244
ORACLE CORPORATION
Q2 FISCAL 2025 FINANCIAL RESULTS
FREE CASH FLOW – TRAILING 4-QUARTERS (1)
($ in millions)
Fiscal 2024
Fiscal 2025
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
GAAP Operating Cash Flow
$ 17,745
$ 17,039
$ 18,239
$ 18,673
$ 19,126
$ 20,287
Capital Expenditures
(8,290)
(6,935)
(5,981)
(6,866)
(7,855)
(10,745)
Free Cash Flow
$ 9,455
$ 10,104
$ 12,258
$ 11,807
$ 11,271
$ 9,542
Operating Cash Flow % Growth over prior year
68 %
13 %
18 %
9 %
8 %
19 %
Free Cash Flow % Growth over prior year
76 %
20 %
68 %
39 %
19 %
(6 %)
GAAP Net Income
$ 9,375
$ 10,137
$ 10,642
$ 10,467
$ 10,976
$ 11,624
Operating Cash Flow as a % of Net Income
189 %
168 %
171 %
178 %
174 %
175 %
Free Cash Flow as a % of Net Income
101 %
100 %
115 %
113 %
103 %
82 %
(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
Q2 FISCAL 2025 FINANCIAL RESULTS
SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1)
($ in millions)
Fiscal 2024
Fiscal 2025
Q1
Q2
Q3
Q4
TOTAL
Q1
Q2
Q3
Q4
TOTAL
REVENUES BY OFFERINGS
Cloud services
$ 4,635
$ 4,775
$ 5,054
$ 5,311
$ 19,774
$ 5,623
$ 5,937
$ 11,559
License support
4,912
4,864
4,909
4,923
19,609
4,896
4,869
9,765
Cloud services and license support
9,547
9,639
9,963
10,234
39,383
10,519
10,806
21,324
Cloud license and on-premise license
809
1,178
1,256
1,838
5,081
870
1,195
2,065
Hardware
714
756
754
842
3,066
655
728
1,383
Services
1,383
1,368
1,307
1,373
5,431
1,263
1,330
2,594
Total revenues
$ 12,453
$ 12,941
$ 13,280
$ 14,287
$ 52,961
$ 13,307
$ 14,059
$ 27,366
AS REPORTED REVENUE GROWTH RATES
Cloud services
30 %
25 %
25 %
20 %
25 %
21 %
24 %
23 %
License support
2 %
2 %
1 %
0 %
1 %
0 %
0 %
0 %
Cloud services and license support
13 %
12 %
12 %
9 %
12 %
10 %
12 %
11 %
Cloud license and on-premise license
(10 %)
(18 %)
(3 %)
(15 %)
(12 %)
7 %
1 %
4 %
Hardware
(6 %)
(11 %)
(7 %)
(1 %)
(6 %)
(8 %)
(4 %)
(6 %)
Services
2 %
(2 %)
(5 %)
(6 %)
(3 %)
(9 %)
(3 %)
(6 %)
Total revenues
9 %
5 %
7 %
3 %
6 %
7 %
9 %
8 %
CONSTANT CURRENCY REVENUE GROWTH RATES (2)
Cloud services
29 %
24 %
24 %
20 %
24 %
22 %
24 %
23 %
License support
0 %
0 %
1 %
1 %
0 %
0 %
0 %
0 %
Cloud services and license support
12 %
11 %
11 %
10 %
11 %
11 %
12 %
11 %
Cloud license and on-premise license
(11 %)
(19 %)
(3 %)
(14 %)
(12 %)
8 %
3 %
5 %
Hardware
(8 %)
(12 %)
(7 %)
0 %
(7 %)
(8 %)
(3 %)
(5 %)
Services
1 %
(3 %)
(5 %)
(6 %)
(3 %)
(8 %)
(3 %)
(5 %)
Total revenues
8 %
4 %
7 %
4 %
6 %
8 %
9 %
8 %
CLOUD SERVICES AND LICENSE SUPPORT REVENUES
BY ECOSYSTEM
Applications cloud services and license support
$ 4,471
$ 4,474
$ 4,584
$ 4,642
$ 18,172
$ 4,769
$ 4,784
$ 9,552
Infrastructure cloud services and license support
5,076
5,165
5,379
5,592
21,211
5,750
6,022
11,772
Total cloud services and license support revenues
$ 9,547
$ 9,639
$ 9,963
$ 10,234
$ 39,383
$ 10,519
$ 10,806
$ 21,324
AS REPORTED REVENUE GROWTH RATES
Applications cloud services and license support
11 %
10 %
10 %
6 %
9 %
7 %
7 %
7 %
Infrastructure cloud services and license support
15 %
14 %
13 %
12 %
14 %
13 %
17 %
15 %
Total cloud services and license support revenues
13 %
12 %
12 %
9 %
12 %
10 %
12 %
11 %
CONSTANT CURRENCY REVENUE GROWTH RATES (2)
Applications cloud services and license support
11 %
9 %
10 %
6 %
9 %
7 %
7 %
7 %
Infrastructure cloud services and license support
14 %
12 %
13 %
13 %
13 %
14 %
17 %
16 %
Total cloud services and license support revenues
12 %
11 %
11 %
10 %
11 %
11 %
12 %
11 %
GEOGRAPHIC REVENUES
Americas
$ 7,841
$ 8,067
$ 8,270
$ 8,945
$ 33,122
$ 8,372
$ 8,933
$ 17,305
Europe/Middle East/Africa
3,005
3,170
3,316
3,539
13,030
3,228
3,381
6,609
Asia Pacific
1,607
1,704
1,694
1,803
6,809
1,707
1,745
3,452
Total revenues
$ 12,453
$ 12,941
$ 13,280
$ 14,287
$ 52,961
$ 13,307
$ 14,059
$ 27,366
(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, 2024 and 2023 for the fiscal 2025 and fiscal 2024 constant currency growth rate calculations presented, respectively, rather than the actual exchange rates in effect during
the respective periods.
APPENDIX A
ORACLE CORPORATION
Q2 FISCAL 2025 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-2025-second-quarter-financial-results-302326639.html
SOURCE Oracle
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The Ultimate Send-off to Summer: CSTS Debuts Global Entertainment IP PremierX at New York’s Pier 17, Ushering in a New Era of Live Entertainment
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NEW YORK, Oct. 24, 2026 /PRNewswire/ — CSTS Enterprises (‘CSTS’), a New York-based sports, entertainment, integrated media and travel technology group, today announced the official launch of PremierXTM, its flagship live entertainment brand, with a landmark Halloween Weekend event “AFTER DARK” at The Rooftop at Pier 17 in New York on October 30, 2026.
Capping off Seaport’s 2026 Summer Season in unforgettable fashion, the grand finale brings a powerhouse lineup of stars to the PremierXTM stage at Pier 17, featuring Lil Xan, Armani White, DJ Soda, Nate Wyatt, and surprise A-list guest headliners. Set against the iconic Manhattan skyline, the landmark eventing unites chart-topping hip-hop and high-octane electronic music for a festival-grade experience as The Rooftop at Pier 17 transforms into the city’s premier live music destination.
Building on the momentum of the PremierXTM After Party for the 2026 World Cup Final that took place in New York on July 19th, “AFTER DARK” signals the official debut of PremierXTM, a proprietary, New York – born global entertainment IP created by CSTS to deliver defining cultural experiences at the intersection of music, sport, art and lifestyle. Centred on the power of cultural crossover, PremierXTM serves as an international bridge connecting East and West, modern innovation and timeless classical, while uniting world-class artists, creators, performers and audiences through the universal language of entertainment and premium live experiences.
The launch also marks the beginning of a promising relationship with Pier 17, providing a world-class stage for PremierXTM to accelerate its growth in the U.S. and engage international audiences over the long term. By combining PremierXTM’s global entertainment vision with Pier 17’s iconic waterfront setting, the partnership aims to create a premier destination for live experiences, empowering both platforms to expand their global reach, deepen audience engagement, and drive sustainable growth.
As a key pillar of CSTS’ integrated ecosystem spanning entertainment, sports, travel, integrated media and marketing solutions, PremierXTM further strengthens the Group’s ability to create high-impact experiences that connect audiences, destinations and brand partners. With the global live entertainment market projected to grow from approximately US$203 billion in 2025 to US$270 billion by 2030[1], PremierXTM is well-positioned to capitalize on the growing demand for premium, experience-led entertainment while creating long-term value to the Group through recurring audience engagement, tourism and brand partnerships.
“PremierX TM represents a significant milestone in CSTS’ evolution from a leading operator of global sports and hospitality platforms into a creator of world-class entertainment experiences,” said Abel Zhao, Group CEO and Executive Director at CSTS Enterprises. “The season finale at Pier17 marks the beginning of an exciting new chapter for CSTS as we expand our entertainment footprint and introduce a platform designed to deliver iconic live experiences and bring together artists and audiences from across the globe.”
“PremierXTM was built from the ground up as a bespoke platform to champion multicultural talent and visionary creative performers.” said Jason Liu, Regional Director of CSTS USA. “Starting from New York, we are building a scalable global brand that brings iconic live experiences to audiences worldwide while expanding our presence across key entertainment hubs in North America, Asia and Europe.”
Following its New York launch, PremierXTM plans to expand through a broader international rollout across North America, Asia and Europe, with future editions planned as part of a growing network of recurring live entertainment properties and flagship cultural events.
For ticket information on PremierXTM: “AFTER DARK”, visit
https://www.axs.com/events/1644912/after-dark-tickets
About CSTS Enterprises
CSTS Enterprises is an integrated media, entertainment, sports, and travel technology group. Headquartered in New York City, the company develops and partners with intellectual properties and brands to deliver compelling experiences that connect with audiences across the world. In addition to its own initiatives, including Generation CTM and PremierXTM, it collaborates with international IPs including FIFA World Cup, UEFA European Championship, and Formula 1.
CSTS integrates experiential marketing, travel, data, and technology to deliver seamless end-to-end audience experiences. The company engages consumers across physical events and digital channels, executing at scale worldwide, turning complex activations into co-ordinated, measurable outcomes.
[1] Source: Industry research by Markets and Markets, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030, Live Entertainment Market Size, Share, Latest Trends & Growth Analysis, 2025-2030.
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SOURCE CSTS Enterprises
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FARGO, N.D., Oct. 24, 2026 /PRNewswire/ — Swanson Vitamins today launched Swanson Vitamins Nexus Pro, a network for health and nutrition professionals. The new initiative champions registered dietitians and licensed nutritionists through every stage of their careers, from students to providers with decades of experience. Created by nutrition professionals for nutrition professionals, Swanson Vitamins Nexus Pro offers educational resources, incentives and investments to support practitioners who share Swanson’s commitment to uncompromising integrity.
Swanson Vitamins Nexus Pro offers tailored resources for both practicing professionals and students. For practicing registered dietitians and licensed nutritionists, the program provides CPEU-accredited continuing education, along with profession-wide promotion of the experts who guide consumers’ wellness decisions. For dietetics and nutrition students, Swanson is investing in the next generation of the profession through practicum support and scholarships toward licensing or credentialing exam fees.
As consumers take a more active role in their health, they are increasingly turning to registered dietitians and licensed nutritionists for accurate, science-backed guidance. Through Swanson Vitamins Nexus Pro, Swanson aims to help nutrition professionals strengthen their credentials and build expertise in areas where consumers are seeking trusted nutritional support.
“Since 1969, we have been committed to uncompromising integrity in service of everyone’s journey to real wellness, and we believe real wellness starts with the experts who guide it,” said Erin Del Ponte, EVP Brand Marketing at Swanson Vitamins. “Registered dietitians and licensed nutritionists translate nutrition science into practical, personalized guidance that helps people make informed decisions about their health. With Swanson Vitamins Nexus Pro, we are proud to support these professionals at every stage of their careers, from students preparing for their credentialing exams to seasoned providers building expertise in the areas that matter most to consumers today.”
Swanson Nexus Pro program highlights
CPEU-accredited continuing education for registered dietitians and licensed nutritionistsProfession-wide promotion of registered dietitians and licensed nutritionistsPracticum support for dietetics and nutrition studentsScholarships to help offset licensing or credentialing exam fees
Applications for Swanson Vitamins Nexus Pro are open and can be submitted HERE. Additional details, including scholarship award amounts and practicum support details, will be announced in the coming weeks.
Swanson Vitamins Nexus Pro was introduced at the Food & Nutrition Conference & Expo, the Academy of Nutrition and Dietetics’ annual conference, held Oct. 24-27 in San Antonio. This initiative builds on Swanson’s longstanding commitment to the nutrition and dietetics community and reflects the company’s continued investment in the professionals who help consumers make informed choices on their journey to real wellness.
Media Assets
Photos HERE
About Swanson Vitamins
Since 1969, Swanson Vitamins has offered high-quality, science-backed vitamins and supplements rooted in one simple belief: proof over promise. Nearly six decades before “wellness” became an industry, Swanson was pioneering trustworthy supplement offerings and upholding uncompromising quality standards through intentional sourcing, rigorous in-house and third-party testing and Good Manufacturing Practices (GMP).
Today, Swanson is a Certified GMP Facility recognized by NSF, backed by an in-house team of nutritionists, dietitians, scientists, chemists and pharmacists with a combined 250-plus years of experience. With more than 1,300 products across 36 categories, Swanson doesn’t chase trends. It sets standards for integrity, quality and clarity in the supplement industry.
Swanson products are available at SwansonVitamins.com, Amazon and iHerb.com. Learn more at SwansonVitamins.com or follow @swansonvitamins on Instagram.
MEDIA CONTACT
Lauren Torrez, Crowe PR
ltorrez@crowepr.com
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WUHU, China, Oct. 24, 2026 /PRNewswire/ — Expectations for travel are evolving: vehicles are no longer simply a means of reaching a destination, but travel companions that bring people closer to nature, serving as a “mobile third space.”
JETOUR continues to advance its “Travel+” strategy, integrating technological innovation, product development, and ecosystem building into real travel scenarios. From October 20 to 23, the 2026 JETOUR Global Technology Experience Day, themed “Future Travel Starts Now,” takes place across Wuhu, Anhui and Moganshan, Zhejiang, featuring technology experiences, on-road driving, outdoor living, and conservation activities.
Technological Innovation: Expanding the Possibilities of Travel
Backed by the Group’s expertise in AI, intelligent driving, smart cabins, and AiMOGA Robotics, JETOUR turns cutting-edge technology into experiences users can genuinely feel. The XWD Fully Automatic Intelligent 4WD, with 7+X one-touch modes, tackles mountain roads, gravel, and water crossings, while the GAIA All-Terrain Intelligent Architecture adapts to diverse terrain and C-DM hybrid technology balances performance with efficiency. On October 21, models with these technologies take on mountain-road test drives at Moganshan.
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The G700 combines premium comfort with hardcore off-road capability, while the T1 and T2 suit both urban driving and light off-road adventures. Roof tents, onboard refrigerators, and other ecosystem equipment turn the vehicle into an all-round companion. JETOUR also hosts a camping market and a Starry Night Forum, bringing product features into real travel settings.
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Travel is about understanding cultures and protecting nature as well as exploration. Participants visit Xiazhu Lake in Zhejiang for a crested ibis conservation initiative. Globally, JETOUR supports cheetah conservation in Africa, turtle conservation in Malaysia, harpy eagle conservation in Panama, and protection of Pakistan’s national animal, the markhor.
JETOUR has also partnered with Chile’s Colo-Colo, FIBA, and the Malaysia Marathon, broadening engagement with local culture, sport, and communities — giving “Travel+” an ever richer meaning.
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