Oracle cites overall cloud revenue growth of 44%

Oracle reported total revenues of $9.6 billion for Q2 of its fiscal 2018, up 6% compared to Q2 last year.

The company posted GAAP operating income of $3.1 billion, up 1% yoy, and GAAP operating margin of 32%. Non-GAAP operating income was up 10% to $4.2 billion and non-GAAP operating margin was 44%.

“Overall cloud revenue growth of 44% drove our quarterly revenue and earnings higher,” said Oracle CEO, Safra Catz. “With non-GAAP Cloud SaaS Applications growth of 49% leading the way, Oracle delivered 14% non-GAAP earnings per share growth and 6% overall revenue growth. Our success in the quarter was based on the increasing scale and the gathering momentum in our cloud business. I expect the business to continue to grow and strengthen over the coming quarters.”

• Cloud plus On-Premise Software Revenues were up 9% to $7.8 billion. 
• Cloud Software as a Service (SaaS) revenues were up 55% to $1.1 billion. 
• Cloud Platform as a Service (PaaS) plus Infrastructure as a Service (IaaS) revenues were up 21% to $396 million. 
• Total Cloud Revenues were up 44% to $1.5 billion.

In addition, Oracle’s Board of Directors increased the authorization for share repurchases by $12 billion. The Board of Directors also declared a quarterly cash dividend of $0.19 per share of outstanding common stock.