The software maker revealed a program to encourage customers to adopt its public cloud services in Q1 2022
Oracle posted an adjusted EPS of $1.03 compared to the 97 cents per share expected by analysts. Revenue increased 4% year-over-year in the quarter ended August 31. Still, it came short of the $9.77 billion touted at $9.73 billion.
The company’s most prominent business segment – cloud services and license support – generated $7.37 billion, up 6% compared to the previous figures. At the same time, the cloud license and on-premises license segment brought $813 million in revenue, down 8% from the last numbers.
However, Oracle boosted its capital expenditure above $1 billion, compared with $436 million in the year-ago quarter. The move comes after executives wanted to have an infrastructure able to meet expected cloud demand.
Moreover, in June, Oracle announced the Oracle Support Rewards program meant to help customers speed migrations to the cloud while reducing their software license support costs. Through this, customers will earn at least 25 cents for each dollar of Oracle Cloud Infrastructure Universal Credits they purchase and consume.
For fiscal Q2 2022, Oracle expects the EPS to range between $1.09-$1.13 and the revenue to grow by as much as 5%.
Even though the latest quarterly figures came below expectations, impacting the value of its shares, the Oracle share price added 37% since the beginning of the year. USA500 is up about 19% over the same period.
Sources: cnbc.com, prnewswire.com
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