3/9, 10:11 PM (Source: TeleTrader)
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Oracle EPS down 19% to $0.68 in Q3

Oracle Corporation said on Thursday that its GAAP diluted earnings per share for the third quarter of its fiscal 2023 stood at $0.68, dropping 19% compared to the corresponding period a year earlier.

GAAP net income dropped 18% year on year to $1.9 billion, while total revenues surged 18% to $12.4 billion. Operating income fell 15% to $3.3 billion. Meanwhile, adjusted EPS reached $1.22.

"Oracle's non-GAAP earnings per share growth hit the high end of our guidance—up 13% in constant currency," CEO Safra Catz stated. "Our strong quarterly earnings growth was driven by 48% constant currency growth for the total revenue of our two cloud businesses, infrastructure and applications," she added.

Oracle shares slid 5.03% in after-hours trading following the release of the results.

Baha Breaking News (BBN) / NP