Press Release

Oracle Announces Fiscal 2023 Third Quarter Financial Results

  • Q3 GAAP Earnings per Share $0.68, Non-GAAP Earnings per Share $1.22
  • Q3 Total Revenue $12.4 billion, up 18% in USD, up 21% in constant currency
  • Q3 Cloud Revenue (IaaS plus SaaS) $4.1 billion, up 45% in USD, up 48% in constant currency
  • Q3 Cloud Infrastructure (IaaS) Revenue $1.2 billion, up 55% in USD, up 57% in constant currency
  • Q3 Cloud Application (SaaS) Revenue $2.9 billion, up 42% in USD, up 44% in constant currency
  • Q3 Fusion Cloud ERP (SaaS) Revenue $0.7 billion, up 25% in USD, up 28% in constant currency
  • Q3 NetSuite Cloud ERP (SaaS) Revenue $0.7 billion, up 23% in USD, up 26% in constant currency
  • Oracle Board of Directors declared a quarterly cash dividend of $0.40 per share, up 25% from $0.32
Austin, TexasMarch 9, 2023

Oracle Corporation (NYSE: ORCL) today announced fiscal 2023 Q3 results. Total quarterly revenues were up 18% year-over-year in USD and up 21% in constant currency to $12.4 billion. Cloud services and license support revenues were up 17% in USD and up 20% in constant currency to $8.9 billion. Cloud license and on-premise license revenues were unchanged in USD and up 4% in constant currency to $1.3 billion. For the third quarter of fiscal 2023, Cerner contributed $1.5 billion to total revenues.

Q3 GAAP operating income was $3.3 billion. Non-GAAP operating income was $5.2 billion, up 8% in USD and up 11% in constant currency. GAAP operating margin was 26%, and non-GAAP operating margin was 42%. GAAP net income was $1.9 billion, and non-GAAP net income was $3.4 billion. Q3 GAAP earnings per share was $0.68 while non-GAAP earnings per share was $1.22. Without the impact of the U.S. dollar strengthening compared to foreign currencies, Oracle’s reported Q3 non-GAAP earnings per share would have been 5 cents higher.

Short-term deferred revenues were $8.6 billion. Operating cash flow was $15.5 billion during the trailing twelve months.

“Oracle’s non-GAAP earnings per share growth hit the high end of our guidance—up 13% in constant currency to $1.22,” said Oracle CEO, Safra Catz. “Our strong quarterly earnings growth was driven by 48% constant currency growth for the total revenue of our two cloud businesses, infrastructure and applications. Oracle’s cloud businesses now exceed $16 billion in annualized revenue. We remain the overwhelming market leader in Cloud ERP with approximately 10,000 Fusion ERP customers and over 34,000 NetSuite ERP customers. Our technically advanced and highly differentiated Gen2 infrastructure business continues to be in a hypergrowth phase—up 65% in Q3 in constant currency.”

“Since June of last year when we acquired Cerner, that business has increased its healthcare contract base by approximately $5 billion,” said Oracle Chairman and CTO, Larry Ellison. “We have signed a diverse set of new and expanding domestic and international customers including: the US Department of Defense, the US Department of Veterans Affairs, Hospital Groups in a dozen US States, multiple hospitals in the United Kingdom, multiple Provinces of Canada, the Australian Defense Forces, multiple hospitals in Puerto Rico and multiple countries in the Middle East. While we are pleased with this early success of the Cerner business, we expect the signing of new healthcare contracts to accelerate over the next few quarters.”

Oracle also announced that its Board of Directors declared a quarterly cash dividend of $0.40 per share of outstanding common stock, reflecting a 25% increase over the current quarterly dividend of $0.32. Larry Ellison, Oracle’s Chairman of the Board of Directors, Chief Technology Officer, and largest stockholder, did not participate in the deliberation or the vote on this matter. This increased dividend will be paid to stockholders of record as of the close of business on April 11, 2023, with a payment date of April 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

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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 expectations for growing the Gen2 infrastructure and Cerner businesses, 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 March 9, 2023. Oracle undertakes no duty to update any statement in light of new information or future events.