Oracle reports $9.2 bn revenue in its fiscal first quarter

Cloud major Oracle has reported a revenue of $9.2 billion for its fiscal first quarter (Q1 2019) — up from $9.1 billion in the same period last year.

Total Cloud services and license support including cloud license and on-premise license revenues were up 2 percent to $7.5 billion, the company said in a statement late on Monday.

“We are off to an excellent start with Q1 non-GAAP earnings per share growing 19 percent in constant currency,” said Oracle CEO Safra Catz.

“That strong earnings per share growth rate increases my confidence that we will deliver on another fiscal year of double-digit non-GAAP earnings per share growth,” she added.

The company reported a fiscal first-quarter net income of $2.27 billion compared with $2.14 billion in the same period last year.

“The vast majority of ERP applications running in the cloud are either Oracle Fusion or Oracle NetSuite systems,” said Oracle CEO Mark Hurd.

“The Oracle Fusion ERP customer count is now nearly 5,500, while the NetSuite ERP customer count is over 15,000. Virtually every analyst ranks Oracle as the market leader in Cloud ERP,” Hurd added.

According to Oracle CTO Larry Ellison, the “Oracle Autonomous Database” is now available on their second generation, highly-secure “Bare-Metal” cloud infrastructure.

“Oracle’s Autonomous Database is faster, easier-to-use, more reliable, more secure and much lower cost than Amazon’s databases. And Oracle is the only database that can automatically patch itself while running to protect your data from data theft,” Ellison noted.

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