Oracle EPS down 50% $0.84 in Q3
Oracle Corporation announced on Thursday that its GAAP net income plunged 54% to $2.3 billion, or $0.84 per share, in the third quarter of its fiscal 2022, missing estimates. Non-GAAP net income fell 11% to $3.1 billion and non-GAAP EPS declined 3% year on year to $1.13.
Total revenues amounted to $10.5 billion, rising 4% from the same period a year earlier. Meanwhile, cloud services and license support revenues climbed 5% to $7.6 billion and cloud license and on-premise license revenues rose 1% to $2.3 billion.
"In Q3, Oracle delivered over 7% constant currency revenue growth—our highest quarterly organic revenue growth rate since we began our transition to the cloud," CEO Safra Catz stated.
Oracle shares plunged 6.13% in after-hours trading on worse-than-expected results.