Q4 Total Remaining Performance Obligations up 44% to $98 billion Q4 GAAP Earnings per Share $1.11, Non-GAAP Earnings per Share $1.63 Q4 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 currency Q4 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 currency Q4 Fusion Cloud ERP (SaaS) Revenue $0.8 billion, up 14% in USD and constant currency Q4 NetSuite Cloud ERP (SaaS) Revenue $0.8 billion, up 19% in USD and constant currency FY 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) inConstant 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 withour 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 ourunderlying 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 thanUnited 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 therespective 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