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Oracle Conference Call Highlights

Oracle Corporation (NYSE: ORCL) recently reported its second quarter earnings. Shares of the company are up 10 percent.

View more earnings on ORCL

Below are some key highlights from its conference call.

• Clearly, we are very pleased with our results as hardware and total revenue were both above my CD guidance while total software was up at the high-end.
• Cloud grew 47%, on-premise, software license and support grew 6%, hardware systems grew 4% and total revenue grew 7% in constant currency.
• The as reported numbers were heavily impacted by the strengthening of the U.S. dollar in comparison to other currencies.
• Total revenue saw a 4% currency headwind which would double what it was at the time of my guidance.
• Total cloud revenue was $519 million, growing 47% with Cloud SaaS and PaaS revenue of $364 million, up 41% from last year and more than double last year's growth.
• The cloud bookings momentum of several quarters is now helping drive SaaS and PaaS revenue growth.
• Cloud infrastructure-as-a-service revenue was $155 million, up 62% but due in part to prior-year compares being low.
• Overall, our cloud results were better than expected as we're clearly growing faster than Salesforce and we're more than three times the size of Workday.
• Our goal remains to be bigger and grow faster in the cloud than both companies while improving our already high levels of profitability.
• Total software revenues were $7.3 billion, up 8% from last year.
• Software updates and product support revenues drove nearly half of total company revenue at $4.8 billion, up 9% from last year.
• New software license revenues were $2 billion.
• For the company, total revenue for the quarter was $9.6 billion, up 7% from last year.
• And EPS was $0.69 in U.S. dollars.
• This quarter we repurchased 52.8 million shares for a total of $2.1 billion.
• Over the last 12 months, we've repurchased more than 200 million shares for a total of $8.1 billion, paid out dividends of $2.1 billion, for a total that is more than 70% of our free cash flow.
• And the board of directors declared a quarterly dividend of $0.12 per share.
• Non-GAAP EPS is expected to be somewhere between $0.69 and $0.74, again, all this in constant currency.
• In Q2, we booked more than $170 million in new SaaS and PaaS annually recurring revenue or ARR. In other words, we sold over $170 million of new SaaS and PaaS annual subscriptions this past quarter.
• In Q4 of this fiscal year, we expect to sell more than $250 million of new annual SaaS and PaaS subscriptions.

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