Press Release

Oracle Announces Fiscal 2023 Second Quarter Financial Results

  • Q2 GAAP Earnings per Share $0.63, Non-GAAP Earnings per Share $1.21
  • Q2 Total Revenue $12.3 billion, up 18% in USD, up 25% in constant currency
  • Q2 Cloud Revenue (IaaS plus SaaS) $3.8 billion, up 43% in USD, up 48% in constant currency
  • Q2 Cloud Infrastructure (IaaS) Revenue $1.0 billion, up 53% in USD, up 59% in constant currency
  • Q2 Cloud Application (SaaS) Revenue $2.8 billion, up 40% in USD, up 45% in constant currency
  • Q2 Fusion Cloud ERP (SaaS) Revenue $0.6 billion, up 23% in USD, up 28% in constant currency
  • Q2 NetSuite Cloud ERP (SaaS) Revenue $0.6 billion, up 25% in USD, up 29% in constant currency
Austin, Texas—Dec 12, 2022

Oracle Corporation (NYSE: ORCL) today announced fiscal 2023 Q2 results. Total quarterly revenues were up 18% year-over-year in USD and up 25% in constant currency to $12.3 billion. Cloud services and license support revenues were up 14% in USD and up 20% in constant currency to $8.6 billion. Cloud license and on-premise license revenues were up 16% in USD and up 23% in constant currency to $1.4 billion. For the second quarter of fiscal 2023, Cerner contributed $1.5 billion to total revenues.

Q2 GAAP operating income was $3.1 billion. Non-GAAP operating income was $5.1 billion, up 5% in USD and up 12% in constant currency. GAAP operating margin was 25%, and non-GAAP operating margin was 41%. GAAP net income was $1.7 billion, and non-GAAP net income was $3.3 billion. Q2 GAAP earnings per share was $0.63 while non-GAAP earnings per share was $1.21.

Short-term deferred revenues were $8.7 billion. Operating cash flow was $15.1 billion during the trailing twelve months.

The strengthening of the U.S. dollar compared to foreign currencies had a significant impact on results in the quarter. Without the impact of the U.S. dollar strengthening compared to foreign currencies, Oracle’s reported Q2 non-GAAP earnings per share would have been 9 cents higher.

“In Q2, Oracle’s total revenue grew 25% in constant currency—exceeding the high end of our guidance by more than $200 million,” said Oracle CEO, Safra Catz. “That strong overall revenue growth was powered by our infrastructure and applications cloud businesses that grew 59% and 45% respectively, in constant currency. Fusion Cloud ERP grew 28% in constant currency, NetSuite Cloud ERP grew 29% in constant currency—each and every one of our strategic businesses delivered solid revenue growth in the quarter.”

“Since the acquisition, Cerner has contributed to Oracle’s growth—and Oracle has helped Cerner improve its technology,” said Oracle Chairman and CTO, Larry Ellison. “But we are just beginning our mission to modernize healthcare information systems. In the wake of the COVID pandemic, there is a worldwide sense of urgency to transform and improve national healthcare systems. Our goals are ambitious: fully automate clinical trials to shorten the time it takes to deliver lifesaving new drugs to patients, enable doctors to easily access better information leading to better patient outcomes, and provide public health professionals with an early warning system that locates and identifies new pathogens in time to prevent the next pandemic. The scale of this opportunity is unprecedented—and so is the responsibility that goes along with it.”

The board of directors declared a quarterly cash dividend of $0.32 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on January 10, 2023, with a payment date of January 24, 2023.


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

Contact Info

Ken Bond

Oracle Investor Relations

Deborah Hellinger

Oracle Corporate Communciations

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“Safe Harbor” Statement

Statements in this press release relating to Oracle's future plans, expectations, beliefs, intentions and prospects, including statements regarding our plans to modernize healthcare information systems and improve public health, 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; supply chain constraints and third-party manufacturing and logistics delays; significant coding, manufacturing or configuration errors in our offerings; risks associated with acquisitions; the COVID-19 pandemic; economic, political and market conditions; information technology system failures, privacy concerns and 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 All information set forth in this press release is current as of December 12, 2022. Oracle undertakes no duty to update any statement in light of new information or future events.