Oracle's (ORCL) new software license/cloud subscription revenue (boosted some by M&A) rose 4% Y/Y in FQ3 to $2.4B; that's in-line with a guidance range of 1%-11%, and better than FQ2's 1% decline. Hardware product sales rose 8% Y/Y, at the high end of a guidance range of -2% to +8% and better than FQ2's -3%.
License update/product support revenue (fairly stable) rose 5% Y/Y to $4.6B (49% of revenue) after growing 6% in FQ2. Hardware support revenue +5% vs. +4%, services -4% vs. -6%.
Opex rose only 2% Y/Y, down from FQ2's 4% clip; Wedbush had reported hearing of bonus cuts. Sales/marketing spend rose 7%, and R&D 9%, but G&A fell 3%.
$2B was spent on buybacks, down from $2.8B in FQ2.
CC at 5PM ET, guidance should be provided.
FQ3 results, PR