Oracle beats Q3 estimates, adds around 4,000 Autonomous Database trials

Oracle Corporation today announced fiscal 2019 Q3 results.

Software business, which is the total of cloud services and license support revenue with cloud license and on-premise license revenue, is 82 percent of total revenue and it grew 3 percent in constant currency. Cloud Services account for 70 percent of Oracle revenues.

Cloud Services and License Support, an accounting category that encompasses all subscription revenue, contributed $6.7 billion, and licenses sold in the cloud or on-premises brought in another $1.3 billion.

Operating expense fell 2.3 percent to $6.22 billion. Non-GAAP Operating Income was up 2% to $4.3 billion and non-GAAP Operating Margin was 44%. GAAP Earnings Per Share increased to $0.76 while non-GAAP Earnings Per Share was up 8% to $0.87. The same period from a year ago had $0.83 in EPS and $9.78 billion in revenue.

The company posted net income of $2.75 billion, or 76 cents per share, in the three months ended February 28, compared with a net loss of $4.05 billion, or 98 cents per share, a year earlier.

"I'm pleased with Q3 non-GAAP results as revenues grew 3%, operating income increased 5% and EPS grew 12% in constant currency", CEO Safra Catz said in a statement. "With year-to-date non-GAAP EPS growth rate now at 16% in constant currency, we will comfortably deliver another year of double-digit EPS growth".

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Oracle's revenue remained stagnant in its third fiscal quarter, but the company saw encouraging performance in its two next-generation ERP suites as it refocuses its business on cloud applications and infrastructure services, Oracle leaders said Thursday in an earnings call. "By the end of Q3 we had almost 1,000 paying Autonomous Database customers and we added around 4,000 new Autonomous Database trials in Q3".

Its cloud software services revenue expanded 27.9 percent in the calendar fourth quarter, compared with the industry's 21.5 percent growth, according to market research firm Canalys.

"Oracle's future rests on two strategic businesses: cloud applications and cloud infrastructure", Oracle Chairman and CTO Larry Ellison told investors.

"By It's early days, but this is the most successful introduction of a new product in Oracle's forty year history", Ellison said.

Oracle has raised its quarterly cash dividend to United States dollars 0.24 per share, after reporting higher adjusted revenues for its fiscal third quarter.

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