Eliot Murray • 32 Comments
Josh Burwick • 50 Comments
RM15 • 23 Comments
Josh Burwick • 50 Comments
Tue, Mar. 15, 4:26 PM
- Oracle (NYSE:ORCL) has used its FQ3 report (revenue missed, EPS beat) to announce it's adding $10B to its buyback authorization. The new funds are good for repurchasing 6% of shares at current levels. $8.5B was spent on common stock repurchases over the first 9 months of FY16, with over $2B spent in FQ3 (boosted EPS).
- The software giant has also declared its regular $0.15/share quarterly dividend (1.5% yield). The next dividend is payable on April 28 to shareholders on record as of April 14.
- Top-line performance: Op-premise software + cloud revenue fell 1% Y/Y in FQ3, and rose 3% in constant currency (within a 3%-4% guidance range). On-premise software revenue fell 4% to $6.3B, a smaller decline than FQ2's 7%. Cloud revenue rose 40% to $735M, an improvement (thanks to strong prior bookings) from FQ2's 26%. Hardware revenue fell 13% to $1.1B, and other services revenue fell 7% to $793M. Forex had a 400 bps impact on revenue growth (-3% Y/Y vs. +1%)
Within on-premise, new software license revenue (hurt by cloud adoption) fell a steep 15% Y/Y to $1.7B. Software license update/product support revenue (driven by past license deals) was flat at $4.7B. Within cloud, SaaS/PaaS (cloud apps and app platforms, an Oracle priority) revenue rose 57% to $583M; IaaS (cloud infrastructure, faces tough competition from Amazon and others) revenue fell 2% to $152M. SaaS/PaaS bookings rose 77% Y/Y in constant currency. Mark Hurd and Larry Ellison once more trash-talk Salesforce and Workday.
- Financials: Lifting EPS: GAAP costs/expenses rose just 1% Y/Y to $6B, thanks partly to a 23% drop in amortization expenses to $408M. Sales/marketing spend rose 3% to $1.9B, R&D 4% to $1.4B, and G&A 15% to $290M. Oracle ended FQ3 with $51B in cash/investments (much of it offshore) and $40B in debt.
- ORCL +3.9% after hours to $40.23. Conference call at 5PM ET (webcast), guidance should be provided.
- Oracle's FQ3 results, earnings release
Mar. 17, 2015, 4:21 PM
- Oracle (NYSE:ORCL) uses its FQ3 report to state it's hiking its quarterly dividend by $0.03 to $0.15/share; that's good for a 1.4% yield at current levels. The next dividend will be paid on April 28 to shareholders on record as of April 7.
- Software/cloud revenue rose 1% Y/Y in FQ3 to $7.1B, and 7% in constant currency; guidance was for 5%-8% constant currency growth. Hardware system revenue fell 2% to $1.3B, and rose 5% in constant currency; guidance at CC was -2% to +8%.
- Traditional software license revenue (hurt by cloud software adoption) fell 7% to $1.98B, a bigger decline than FQ2's 4%. Cloud app and app platform (SaaS/PaaS) revenue rose 30% to $372M, and cloud infrastructure (IaaS) revenue 28% to $155M. Software license/product support revenue (fairly stable) rose 2% to $4.66B, and other services revenue fell 3% to $858M.
- Cost controls helped EPS meet estimates in spite of the revenue miss: GAAP operating expenses rose 4% to $5.94B. R&D rose 6% to $1.37B, and sales/marketing just 1% to $1.84B; G&A was flat at $252M. Also boosting EPS: $2B was spent on buybacks.
- With forex acting as a headwind, Asia-Pac revenue fell 19% to $1.38B, and EMEA revenue 4% to $2.81B. Americas revenue rose 4% to $5.13B.
- ORCL +0.9% AH to $43.25. CC at 5PM, guidance will be provided.
- FQ3 results, PR
Jun. 20, 2013, 4:06 PMOracle Corporation (ORCL) declares $0.12/share quarterly dividend, 100% increase from prior dividend of $0.06. Forward yield 1.46%. For shareholders of record July 12. Payable Aug. 02. Ex-div date July 10. Shares -4.9% AH. The board authorized to repurchase additional $12.0B of common stock. (PR) | Jun. 20, 2013, 4:06 PM
Dec. 3, 2012, 4:55 PMOracle Corporation (ORCL) announced acceleration of second, third and fourth quarter dividend totaling $0.18/share. For shareholders of record Dec. 14. Payable Dec. 21. Ex-div date Dec. 12. (PR) | Dec. 3, 2012, 4:55 PM
Dec. 3, 2012, 4:43 PM
With the fiscal cliff (and a potential dividend tax hike) looming, Oracle (ORCL) has decided to accelerate the payment of its FQ2, FQ3, and FQ4 quarterly dividends. The payments, which total $0.18/share, will now be made on Dec. 21 to shareholders on record as of Dec. 14. Oracle's board won't be able to declare another dividend until Aug. 31, 2013, the end of its fiscal year. StreetInsider observes the move could save Larry Ellison $50M in tax payments.| Dec. 3, 2012, 4:43 PM