Technology

Oracle Announces Fiscal 2025 Second Quarter Financial Results

Published

1 year ago

December 9, 2024

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

(Decrease)

% 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 %

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 %)

Total revenues

14,059

100 %

12,941

100 %

9 %

OPERATING EXPENSES

Cloud services and license support

2,746

19 %

2,274

17 %

21 %

Hardware

172

1 %

213

2 %

(20 %)

(19 %)

Services

1,167

8 %

1,253

10 %

(7 %)

Sales and marketing

2,190

16 %

2,093

16 %

5 %

Research and development

2,471

18 %

2,226

17 %

11 %

General and administrative

387

3 %

375

3 %

Amortization of intangible assets

591

4 %

755

6 %

(22 %)

Acquisition related and other

0 %

(34 %)

(33 %)

Restructuring

1 %

0 %

1 %

Total operating expenses

9,839

70 %

9,319

72 %

6 %

OPERATING INCOME

4,220

30 %

3,622

28 %

17 %

16 %

Interest expense

(866)

(6 %)

(888)

(7 %)

(3 %)

Non-operating income (expenses), net

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 %

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

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 %

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 %

Amortization of intangible assets (4)

591

(591)

–

755

(755)

–

(22 %)

Acquisition related and other

(31)

–

(47)

–

(34 %)

(33 %)

Restructuring

(84)

–

(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 %

(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)

(3)

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

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)

–

(6)

–

Services

(53)

–

(45)

–

Sales and marketing

195

(195)

–

174

(174)

–

Research and development

657

(657)

–

573

(573)

–

General and administrative

(99)

–

(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

(Decrease)

% 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 %

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 %

OPERATING EXPENSES

Cloud services and license support

5,344

20 %

4,452

18 %

20 %

Hardware

333

1 %

432

2 %

(23 %)

(22 %)

Services

2,314

8 %

2,465

10 %

(6 %)

Sales and marketing

4,226

15 %

4,118

16 %

3 %

Research and development

4,777

18 %

4,442

17 %

8 %

General and administrative

745

3 %

769

3 %

(3 %)

Amortization of intangible assets

1,215

4 %

1,518

6 %

(20 %)

Acquisition related and other

0 %

(25 %)

Restructuring

157

1 %

222

1 %

(29 %)

Total operating expenses

19,155

70 %

18,476

73 %

4 %

OPERATING INCOME

8,211

30 %

6,918

27 %

19 %

Interest expense

(1,708)

(6 %)

(1,760)

(7 %)

(3 %)

Non-operating income (expenses), net

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 %

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

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 %

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 %

Amortization of intangible assets (4)

1,215

(1,215)

–

1,518

(1,518)

–

(20 %)

Acquisition related and other

(44)

–

(58)

–

(25 %)

Restructuring

157

(157)

–

222

(222)

–

(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)

(2)

(3)

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

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)

–

(11)

–

Services

(96)

–

(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

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)

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

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

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 %

20 %

25 %

21 %

24 %

23 %

License support

2 %

1 %

0 %

1 %

0 %

Cloud services and license support

13 %

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 %

20 %

24 %

22 %

24 %

23 %

License support

0 %

1 %

0 %

Cloud services and license support

12 %

11 %

10 %

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 %

6 %

9 %

7 %

Infrastructure cloud services and license support

15 %

14 %

13 %

12 %

14 %

13 %

17 %

15 %

Total cloud services and license support revenues

13 %

12 %

9 %

12 %

10 %

12 %

11 %

CONSTANT CURRENCY REVENUE GROWTH RATES (2)

Applications cloud services and license support

11 %

9 %

10 %

6 %

9 %

7 %

Infrastructure cloud services and license support

14 %

12 %

13 %

14 %

17 %

16 %

Total cloud services and license support revenues

12 %

11 %

10 %

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.

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SOURCE Oracle

Technology

The Inner Circle acknowledges Colleen Reilly as a Pinnacle Professional Member Inner Circle of Excellence

Published

1 hour ago

April 24, 2026

PORT ST. JOE, Fla., April 24, 2026 /PRNewswire/ — Prominently featured in The Inner Circle, Colleen Reilly is honored as a Pinnacle Professional Member Inner Circle of Excellence for her contributions to Transforming Catering and Event Services in Northwest Florida.

Since 2015, Colleen Reilly has served as founder and CEO of Catering Connections, a company that has redefined catering in Northwest Florida’s beach communities through innovation, collaboration, and community focus. Guided by her motto “Just one call feeds them all,” Ms. Reilly established a unique model by partnering with local restaurants to showcase their specialties, fostering unity among businesses while providing clients with one-of-a-kind event experiences.

With over 15 years of industry expertise, Ms. Reilly specializes in coordinating weddings, family reunions, and corporate events, managing every detail from client consultation to menu planning and flawless execution. Her dedication to service has earned Catering Connections multiple recognitions, including the Couples Choice Award from WeddingWire from 2021 to 2025, the Best of Florida Award from 2022 to 2024, and the Lux Life Hospitality and Catering Award in 2023 and 2024.

Ms. Reilly’s career foundation includes an associate degree in paralegal studies, magna cum laude, from Volunteer State College, a reflection of her meticulous approach to detail and commitment to excellence. Beyond her business, she serves her community as a board member of the Historic St. Andrews Waterfront Partnership and as president of Friends of the Governor Stone Inc., a nonprofit dedicated to preserving maritime heritage in Panama City. Her previous civic contributions include serving five years as a guardian ad litem, advocating for children within the legal system, and volunteering as a school chaperone for international student trips.

A leader who blends innovation with service, Ms. Reilly continues to grow Catering Connections while deepening her commitment to the local community. Looking ahead, she remains dedicated to expanding her company’s impact, bringing people together, and creating meaningful experiences through food and fellowship.

Contact: Katherine Green, 516-825-5634, editorialteam@continentalwhoswho.com

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SOURCE The Inner Circle

Technology

Media Contributor Kianga Moore to Host Executive Media Roundtable On AI’s Transformational Impact in Retail

Published

1 hour ago

April 24, 2026

Leaders from AdFury.ai, Vendormint, and New Nexus Group to Explore Real-Time Decision-Making, Resilience, and Growth in a Volatile Market

NEW YORK, April 24, 2026 /PRNewswire/ — As retailers navigate ongoing economic uncertainty, supply chain volatility, and rapidly shifting consumer expectations, the upcoming convening of a high-level roundtable discussion will examine how artificial intelligence is reshaping the retail landscape in real time.

Moderated by Media Contributor Kianga Moore, to be held on Wednesday, April 29 at 11h00am (EST), the roundtable will bring together senior leaders from AdFury.ai, Vendormint and New Nexus Group to discuss how modern enterprise platforms are leveraging AI to drive agility, efficiency, and long-term resilience across the retail ecosystem.

The discussion will additionally focus on how AI is enabling retailers to respond dynamically to changing demand signals, optimize marketing investments, and strengthen interoperability across increasingly complex vendor and marketplace networks.

“Retailers today are operating in a constant state of disruption”, stated Kianga Moore. “This roundtable will explore how AI is not just a tool for efficiency, but a strategic asset for anticipating change and building more resilient, adaptive American enterprise.”

Key discussion topics will include remarks on how, for example, enterprise AI platforms are helping retailers respond instantly to fluctuations in consumer demand, pricing pressures, and external supply chain disruptions and the role of AI in enhancing interoperability across vendors, partners, and marketplaces to create more agile and resilient retail infrastructures in 2026.

Rob Gonda, Chief Technical Officer at Vendormint, stated that, “Interoperability is the backbone of modern retail. AI enables seamless communication between platforms, vendors, and marketplaces—turning fragmented systems into cohesive, responsive ecosystems that can adapt under pressure.”

Discussion topics will also include machine learning’s ability to optimize ad spend, improving personalization, and delivering measurable ROI while maintaining brand trust and regulatory compliance.

Eric Howerton, Co-Founder and Chief Growth Officer of AdFury.ai, added that,”AI is fundamentally changing how brands approach customer acquisition. By leveraging machine learning through fine-tuned, retail-specific agentic flows, we can not only optimize ad spend in real time, but we can also ensure messaging is personalized, compliant, and aligned with evolving consumer expectations.”

And indeed the roundtable will include discussions on how AI-powered predictive analytics can help businesses anticipate economic, technological, and geopolitical disruptions ahead—and plan accordingly.

Cheryl Yarbrough, Vice President of Partnerships at New Nexus Group added that, “Resilience in retail is no longer built in quarterly planning cycles-it’s built in real time. AI gives organizations the ability to identify disruptions before they cascade, pivot strategies before momentum is lost, and maintain continuity when the market moves faster than any human team can react alone.”

The roundtable will be held via Zoom TeleConference, with questions from the press and key stakeholders to follow opening remarks and a 30-minute Q&A between the moderator and the panelists.

For all media inquiries and to register to attend, please contact: Sam Amsterdam, Amsterdam Group Public Relations Inc. – Sam@AmsterdamGroup.net / +1 (202) 910-8349

Vendormint (https://vendormint.com)New Nexus Group (https://www.newnexusgroup.com)AdFury.ai (https://www.adfury.ai)

Samuel Amsterdam
Communications Counsel
Vendormint
samuelamsterdam@gmail.com

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SOURCE Vendormint

Technology

Fairway Home Mortgage Earns Prestigious USA TODAY Top Workplaces Award For 6th Consecutive Year

Published

2 hours ago

April 24, 2026

Fairway CEO Steve Jacobson Named #1 Leadership Award Winner of Companies With 2500+ Employees

MADISON, Wis., April 24, 2026 /PRNewswire/ — Fairway Home Mortgage announced that it has earned the prestigious 2026 USA TODAY Top Workplaces award. This is the sixth year in a row Fairway achieved this honor.

The award honors organizations with 150 or more employees that have created exceptional, people-first cultures. This year, more than 40,500 organizations were invited to participate. The winners are recognized for their commitment to fostering a workplace environment that values employee listening and engagement. USA TODAY showcased the winners at the National Awards Summit in Nashville. Watch the video of the event here.

“Being recognized with this award reflects Fairway’s commitment to bringing our people together face-to-face,” said Fairway’s CEO and Founder Steve Jacobson. “Companies are better when their people are around each other. People need each other and they learn from each other, and we’re very intentional about creating opportunities for in-person collaboration at Fairway.”

Jacobson demonstrated that in-person collaboration when he traveled to Knoxville this week with Fairway Senior Vice President Dan Richards to spend time with one of Fairway’s branches and their local real estate partners. “We engaged in real conversations about the market, discussed what people are seeing on the ground, and talked about how Fairway keeps showing up for clients,” said Richards. “It’s a reflection of the same hands-on approach that has defined Fairway’s culture for more than two decades.”

“To be named a Top Workplace for six consecutive years speaks to Fairway’s leadership, our mindset, and the empowerment of our staff,” said Fairway’s Chief People and Engagement Officer Julie Fry. “Our strength isn’t just what we offer employees. What sets a top workplace apart is the daily commitment to people—prioritizing connection, valuing contributions, and creating an environment where employees feel energized to serve because they feel valued first.”

The winners are determined by authentic employee feedback captured through a confidential survey conducted by Energage, the HR research and technology company behind the Top Workplaces program since 2006. The results are calculated based on employee responses to statements about Workplace Experience Themes, which are proven indicators of high performance.

“Earning a USA TODAY Top Workplaces award is a testament to an organization’s credibility and commitment to a people-first culture,” said Eric Rubino, CEO of Energage. “This award, driven by real employee feedback, is more than just a recognition — it’s proof that your employees believe in the organization and its leadership. Job seekers and customers look for this trusted badge of credibility and excellence. It signals a company that values its people, and that kind of culture resonates in today’s competitive market”

About Fairway Home Mortgage
Madison, WI- and Carrollton, TX-based Fairway Independent Mortgage Corporation (NMLS #2289) is a full-service mortgage lender licensed in all 50 states. Fairway is the #2 overall retail lender in the U.S.

About Energage
Making the world a better place to work together.™
Energage is a purpose-driven company that helps organizations turn employee feedback into useful business intelligence and credible employer recognition through Top Workplaces. Built on 20 years of culture research and the results from 30 million employees surveyed across more than 80,000 organizations, Energage delivers the most accurate competitive benchmark available. With access to a unique combination of patented analytic tools and expert guidance, Energage customers lead the competition with an engaged workforce and an opportunity to gain recognition for their people-first approach to culture. For more information or to nominate your organization, visit energage.com or topworkplaces.com.

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SOURCE Fairway Home Mortgage