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  1. Hardware
March 18, 2015

Oracle revenues flatline due to US currency surge

Revenues showed constant currency growth of 6 percent.

By Alexander Sword

Oracle today announced its Q3 financial results, with revenue unchanged but up in constant currency terms.

Revenues for the cloud and software company rose 6 percent in constant currency.

However, the strengthening of the US dollar relative to other currencies, particularly the Euro, meant that nominal revenues were unchanged at $9.3 billion.

GAAP Net Income was down 3 percent nominally to $2.5 billion, while in constant currency terms, it rose 7 percent.

Software and Cloud revenues, at $7.2 billion, had risen 1 percent at face value and 7 percent in constant currency.

Cloud software-as-a-service (SaaS) and platform-as-a-service (PaaS) saw 30 percent growth to $372 million with 34 percent growth in constant currency. Hardware Systems Revenues fell 2 percent to $1.3 billion, but rose 5 percent in constant currency.

Oracle declared a quarterly cash dividend of $0.15 per share of outstanding common stock, constituting a 25 percent increase over the current dividend of $0.12.

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"In Q3, we sold nearly $200 million of new SaaS and PaaS business as measured in annual recurring revenue," said Oracle CEO, Mark Hurd. "In Q4, we expect to sell over $300 million of new SaaS and PaaS annual recurring revenue.

"That means we have a real chance to sell more SaaS and PaaS new business this coming quarter than any other cloud services provider. I think our hyper-growth in the cloud comes as a big surprise to a lot of people."

"We are well on our way to selling over $1 billion of new SaaS and PaaS business in calendar 2015," said Oracle Chairman and CTO Larry Ellison.

" has announced that it also expects to add about $1 billion of new SaaS and PaaS business this year. So it’s going to be a close race who sells more in the cloud this year, us or them. Stay tuned."

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