Safra Catz, Oracle CEO and then one of Oracle’s two co-CEOs, smiles during Oracle’s OpenWorld conference in San Francisco on September 20, 2016.

David Paul Morris | Bloomberg | Getty Images

Oracle shares fell nearly 5% after the enterprise technology giant reported its financial results for its third quarter 2023.

Here’s how the company did it:

  • Earnings: $1.22 per share, adjusted, compared with $1.20 per share as expected by analysts, according to Refinitiv.
  • Income: $12.40 billion versus $12.42 billion expected by analysts, according to Refinitiv.

Oracle’s total sales were up 18% year-over-year in the most recent quarter.

For the third quarter ended Feb. 28, net income fell to $1.90 billion, or 68 cents a share, from $2.32 billion, or 84 cents a share, a year earlier. On an adjusted basis, Oracle earned $1.22 per share, beating analysts’ estimates of $1.20 per share.

Its operating income was $3.3 billion in the quarter, down 18% from the $2.3 billion it recorded a year ago in the third quarter. The company said that if not for the impact of the strong dollar, its adjusted earnings would have been 5 cents per share higher.

Oracle’s total operating expenses increased 37% year over year to $9.2 billion.

“Oracle’s non-GAAP earnings per share growth reached the high end of our guidance – up 13% in constant currency to $1.22,” Oracle CEO Safra Catz said in a statement. “Our strong quarterly earnings growth was driven by 48% constant currency growth in total revenue for our two cloud businesses, infrastructure and applications.”

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