Oracle recently announced fiscal 2019 Q4 results and fiscal 2019 full year results. Total quarterly revenues were $11.1 billion, up 1% in USD and up 4% in constant currency compared to Q4 last year.
Cloud services and license support revenues were $6.8 billion, while cloud license and on-premise license revenues were $2.5 billion. Total cloud services and license support plus cloud license and on-premise license revenues were $9.3 billion, up 3% in USD and 6% in constant currency. Q4 GAAP operating income was up 2% to $4.3 billion and GAAP operating margin was 38%. Non-GAAP operating income was up 4% to $5.3 billion and non-GAAP operating margin was 47%. GAAP net income was up 14% to $3.7 billion and non-GAAP Net Income was up 3% to $4.1 billion. GAAP earnings per share was $1.07, while non-GAAP earnings per share was $1.16. Short-term deferred revenues were $8.4 billion.
Operating cash flow for fiscal 2019 was $14.6 billion. For fiscal 2019, total revenues were $39.5 billion, slightly higher in USD and up 3% in constant currency. Cloud services and license support revenues were $26.7 billion, while cloud license and on-premise license revenues were $5.9 billion. Total cloud services and license support plus cloud license and on-premise revenues were $32.6 billion, up 2% in USD and 4% in constant currency. Fiscal 2019 GAAP operating income was $13.5 billion, and GAAP operating margin was 34%. Non-GAAP operating income was $17.4 billion, and non-GAAP operating margin was 44%. GAAP net income was $11.1 billion, while non-GAAP net income was $13.1 billion.
Oracle’s chairman and CTO Larry Ellison, and two CEOs Mark Hurd and Safra Catz issued statements commenting on the earnings report:
Oracle CEO Safra Catz: “GAAP earnings per share increased 251% to $2.97, while non-GAAP earnings per share was up 16% to $3.52. In Q4, our non-GAAP operating income grew 7% in constant currency—which drove EPS well above the high end of my guidance. Our high-margin Fusion and NetSuite cloud applications businesses are growing rapidly, while we downsize our low-margin legacy hardware business. The net result of this shift away from commodity hardware to cloud applications was a Q4 non-GAAP operating margin of 47%, the highest we’ve seen in 5 years.”
Oracle CEO Mark Hurd: “Our Fusion ERP and HCM cloud applications suite revenues grew 32% in FY19. Our NetSuite ERP cloud applications revenues also grew 32% this year. These strong results extend Oracle’s already commanding lead in worldwide Cloud ERP. Our cloud applications businesses are growing faster than our competitors. That said, let me call your attention to the following approved statement from industry analyst IDC.” Per IDC’s latest annual market share results, Oracle gained the most market share globally out of all Enterprise Applications SaaS vendors 3 years running—in CY16, CY17, and CY18.
Larry Ellison: “We added over 5,000 new Autonomous Database trials in Q4. Our new Gen2 Cloud Infrastructure offers those customers a compelling array of advance technology features including our self-driving database that automatically encrypts all your data, backs itself up, tunes itself, upgrades itself, and patches itself when a security threat is detected. It does all of this autonomously—while running—without the need for any human intervention, and without the need for any downtime. No other cloud infrastructure provides anything close to these autonomous features.”
A replay of the earnings conference call is available by dialing (855) 859-2056 or (404) 537-3406, Passcode: 9955119.