Jimmy Carter, nation’s 39th president who became influential human rights advocate, dies
AUSTIN, Texas , Dec. 9, 2024 /PRNewswire/ -- Oracle Corporation (NYSE: ORCL) today announced fiscal 2025 Q2 results. Total quarterly revenues were up 9% year-over-year, in both USD and constant currency, to $14.1 billion . Cloud services and license support revenues were up 12% year-over-year, in both USD and constant currency, to $10.8 billion . Cloud license and on-premise license revenues were up 1% in USD and up 3% in constant currency, to $1.2 billion . Q2 GAAP operating income was $4.2 billion . Non-GAAP operating income was $6.1 billion , up 10% in both USD and constant currency. GAAP operating margin was 30%, and non-GAAP operating margin was 43%. GAAP net income was $3.2 billion . Non-GAAP net income was $4.2 billion , up 12% in both USD and constant currency. Q2 GAAP earnings per share was $1.10 , up 24% in USD and up 23% in constant currency, while non-GAAP earnings per share was $1.47 , up 10% in both USD and constant currency. Short-term deferred revenues were $9.4 billion . Over the last twelve months, operating cash flow was $20.3 billion and free cash flow was $9.5 billion . "Record level AI demand drove Oracle Cloud Infrastructure revenue up 52% in Q2, a much higher growth rate than any of our hyperscale cloud infrastructure competitors," said Oracle CEO, Safra Catz . "Growth in the AI segment of our Infrastructure business was extraordinary—GPU consumption was up 336% in the quarter—and we delivered the world's largest and fastest AI SuperComputer scaling up to 65,000 NVIDIA H200 GPUs. With our remaining performance obligation (RPO) up 50% to $97 billion , we believe our already impressive growth rates will continue to climb even higher. This fiscal year, total Oracle Cloud revenue should top $25 billion ." "Oracle Cloud Infrastructure trains several of the world's most important generative AI models because we are faster and less expensive than other clouds," said Oracle Chairman and CTO, Larry Ellison . "And we just signed an agreement with Meta—for them to use Oracle's AI Cloud Infrastructure—and collaborate with Oracle on the development of AI Agents based on Meta's Llama models. The Oracle Cloud trains dozens of specialized AI models and embeds hundreds of AI Agents in cloud applications. For example, Oracle's AI Agents automate drug design, image and genomic analysis for cancer diagnostics, audio updates to electronic health records for patient care, satellite image analysis to predict and improve agricultural output, fraud and money laundering detection, dual-factor biometric computer logins, and real time video weapons detection in schools. Oracle trained AI models and AI Agents will improve the rate of scientific discovery, economic development and corporate growth throughout the world. The scale of the opportunity is unimaginable." The board of directors declared a quarterly cash dividend of $0.40 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on January 9, 2025 , with a payment date of January 23, 2025 . Earnings Conference Call and Webcast Oracle will hold a conference call and webcast today to discuss these results at 4:00 p.m. Central. A live and replay webcast will be available on the Oracle Investor Relations website at www.oracle.com/investor/ . About Oracle Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com . Trademarks Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing. "Safe Harbor" Statement: Statements in this press release relating to future plans, expectations, beliefs, intentions and prospects, including the expectations for converting the Remaining Performance Obligations to revenue, future total Oracle Cloud revenue this fiscal year and the scale of opportunity for Oracle trained AI models and AI Agents, are "forward-looking statements" and are subject to material risks and uncertainties. Risks and uncertainties that could affect our current expectations and our actual results, include, among others: our ability to develop new products and services, integrate acquired products and services and enhance our existing products and services, including our AI products; our management of complex cloud and hardware offerings, including the sourcing of technologies and technology components; our ability to secure data center capacity; significant coding, manufacturing or configuration errors in our offerings; risks associated with acquisitions; economic, political and market conditions; information technology system failures, privacy and data security concerns; cybersecurity breaches; unfavorable legal proceedings, government investigations, and complex and changing laws and regulations. A detailed discussion of these factors and other risks that affect our business is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or by contacting Oracle's Investor Relations Department at (650) 506-4073 or by clicking on SEC Filings on the Oracle Investor Relations website at www.oracle.com/investor/ . All information set forth in this press release is current as of December 9, 2024 . Oracle undertakes no duty to update any statement in light of new information or future events. ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) Three Months Ended November 30, % Increase % Increase (Decrease) % of % of (Decrease) in Constant 2024 Revenues 2023 Revenues in US $ Currency (1) REVENUES Cloud services and license support $ 10,806 77 % $ 9,639 74 % 12 % 12 % Cloud license and on-premise license 1,195 9 % 1,178 9 % 1 % 3 % Hardware 728 5 % 756 6 % (4 %) (3 %) Services 1,330 9 % 1,368 11 % (3 %) (3 %) Total revenues 14,059 100 % 12,941 100 % 9 % 9 % OPERATING EXPENSES Cloud services and license support 2,746 19 % 2,274 17 % 21 % 21 % Hardware 172 1 % 213 2 % (20 %) (19 %) Services 1,167 8 % 1,253 10 % (7 %) (7 %) Sales and marketing 2,190 16 % 2,093 16 % 5 % 5 % Research and development 2,471 18 % 2,226 17 % 11 % 11 % General and administrative 387 3 % 375 3 % 3 % 3 % Amortization of intangible assets 591 4 % 755 6 % (22 %) (22 %) Acquisition related and other 31 0 % 47 0 % (34 %) (33 %) Restructuring 84 1 % 83 1 % 0 % 1 % Total operating expenses 9,839 70 % 9,319 72 % 6 % 6 % OPERATING INCOME 4,220 30 % 3,622 28 % 17 % 16 % Interest expense (866) (6 %) (888) (7 %) (3 %) (3 %) Non-operating income (expenses), net 36 0 % (14) 0 % * * INCOME BEFORE INCOME TAXES 3,390 24 % 2,720 21 % 25 % 24 % Provision for income taxes 239 2 % 217 2 % 11 % 10 % NET INCOME $ 3,151 22 % $ 2,503 19 % 26 % 26 % EARNINGS PER SHARE: Basic $ 1.13 $ 0.91 Diluted $ 1.10 $ 0.89 WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic 2,790 2,746 Diluted 2,869 2,817 (1) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2024, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. Movements in international currencies relative to the United States dollar during the three months ended November 30, 2024 compared with the corresponding prior year period increased our operating income by 1 percentage point. * Not meaningful ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) ($ in millions, except per share data) Three Months Ended November 30, % Increase (Decrease) in US $ % Increase (Decrease) in Constant Currency (2) 2024 2024 2023 2023 GAAP Non-GAAP GAAP Non-GAAP GAAP Adj. Non-GAAP GAAP Adj. Non-GAAP TOTAL REVENUES $ 14,059 $ - $ 14,059 $ 12,941 $ - $ 12,941 9 % 9 % 9 % 9 % TOTAL OPERATING EXPENSES $ 9,839 $ (1,876) $ 7,963 $ 9,319 $ (1,914) $ 7,405 6 % 8 % 6 % 8 % Stock-based compensation (3)The suspect in the high-profile killing of a health insurance CEO that has gripped the United States graduated from an Ivy League university, reportedly hails from a wealthy family, and wrote social media posts brimming with cerebral musings. Luigi Mangione, 26, was thrust into the spotlight Monday after police revealed he is their person of interest in the brutal murder of United Healthcare CEO Brian Thompson, a father of two, last week in broad daylight in Manhattan in a case that laid bare deep frustration and anger with America's privatized medical system. News of his capture in Pennsylvania -- following a tip from a McDonald's worker --triggered an explosion of online activity, with Mangione quickly amassing new followers on social media as citizen sleuths and US media tried to understand who he is. While some lauded him as a hero and lamented his arrest, others analyzed his intellectual takes in search of ideological clues. A photo on one of his social media accounts includes an X-ray of an apparently injured spine. No explicit political affiliation has emerged. Meanwhile, memes and jokes proliferated, many riffing on his first name and comparing him to the "Mario Bros." character Luigi, sometimes depicted in AI-altered images wielding a gun or holding a Big Mac. "Godspeed. Please know that we all hear you," wrote one user on Facebook. "I want to donate to your defense fund," added another. According to Mangione's LinkedIn profile, he is employed as a data engineer at TrueCar, a California-based online auto marketplace. A company spokesperson told AFP Mangione "has not been an employee of our company since 2023." Although he had been living in Hawaii ahead of the killing, he originally hails from Towson, Maryland, near Baltimore. He comes from a prominent and wealthy Italian-American family, according to the Baltimore Banner. The family owns local businesses, including the Hayfields Country Club, its website says. A standout student, Mangione graduated at the top of his high school class in 2016. In an interview with his local paper at the time, he praised his teachers for fostering a passion for learning beyond grades and encouraging intellectual curiosity. A former student who knew Mangione at the Gilman School told AFP the suspect struck him as "a normal guy, nice kid." "There was nothing about him that was off, at least from my perception," this person said, asking that their name not be used. "Seemed to just be smiling, and kind of seemed like he was a smart kid. Ended up being valedictorian, which confirmed that," the former student said. Mangione went on to attend the prestigious University of Pennsylvania, where he completed both a bachelor's and master's degree in computer science by 2020, according to a university spokesperson. While at Penn, Mangione co-led a group of 60 undergraduates who collaborated on video game projects, as noted in a now-deleted university webpage, archived on the Wayback Machine. On Instagram, where his following has skyrocketed from hundreds to tens of thousands, Mangione shared snapshots of his travels in Mexico, Puerto Rico and Hawaii. He also posted shirtless photos flaunting a six-pack and appeared in celebratory posts with fellow members of the Phi Kappa Psi fraternity. However, it is on X (formerly Twitter) that users have scoured Mangione's posts for potential motives. His header photo -- an X-ray of a spine with bolts -- remains cryptic, with no public explanation. Finding a coherent political ideology has also proved elusive, though he had written a review of Ted Kaczynski's manifesto on the online site goodreads, calling it "prescient." Kaczynski, known as the Unabomber, carried out a string of bombings in the United States from 1978 to 1995, a campaign he said was aimed at halting the advance of modern society and technology. Mangione called Kaczynski "rightfully imprisoned," while also saying "'violence never solved anything' is a statement uttered by cowards and predators." According to CNN, handwritten documents recovered when Mangione was arrested included the phrase "these parasites had it coming." Mangione has also linked approvingly to posts criticizing secularism as a harmful consequence of Christianity's decline. In April, he wrote, "Horror vacui (nature abhors a vacuum)." The following month, he posted an essay he wrote in high school titled "How Christianity Prospered by Appealing to the Lower Classes of Ancient Rome." In another post from April, he speculated that Japan's low birthrate stems from societal disconnection, adding that "fleshlights" and other vaginal-replica sex toys should be banned. ia/nro/dw
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