Oracle Financial Results - Oracle's EPS reported at $2.26, significantly beating estimates of $1.64 [1] - Revenue for the second quarter came in at 16.06%, missing the expected 16.21% [1] - Cloud revenue reported at $8 billion, slightly below the expected $8.04 billion [1] - Operating margins at 42%, in line with estimates of 42.2% [2] - Operating income for the quarter was $6.72 billion, missing estimates of $6.82 billion [2] Market Reaction - Following the earnings report, Oracle's shares experienced a negative reaction, dropping over 5% [3][8] - The significant miss in software business revenue raised concerns among investors [3] Future Outlook and Spending - Oracle plans to continue investing heavily, including purchasing GPUs from Nvidia [3][4] - There are concerns about the company's ability to generate sufficient free cash flow to cover expenses, with projections of potential negative free cash flow in upcoming quarters [5] - The remaining performance obligations (RPO) increased significantly year-over-year, reported at $523 billion, but this was noted as a poor comparison [2][6][7] Comparison with Adobe - Adobe reported a fiscal fourth quarter EPS of $5.50, beating expectations of $5.39 [10] - Adobe's revenue for the fourth quarter was reported at 6.19%, exceeding estimates of 6.11% [10] - Adobe's RPO for the fiscal fourth quarter was $22.52 billion, above the expected $22.28 billion [10] - Adobe's subscription revenue grew by 12% year-over-year, contributing to a positive report despite a tepid market reaction [12][13]

Core Viewpoint - Oracle Corporation's shares fell over 6% in after-hours trading following the announcement of fiscal second quarter revenue of $16.1 billion, which represents a 14% increase compared to the previous year [1] Financial Performance - The reported revenue of $16.1 billion indicates a 14% year-over-year growth [1]

Core Viewpoint - The company exceeded expectations on earnings per share (EPS) and expanded its artificial intelligence (AI) deal pipeline, but there are ongoing concerns regarding its financing strategy [1] Financial Performance - The company reported a better-than-expected EPS, indicating strong financial performance [1] - The increase in the AI deal pipeline suggests growth potential in this sector [1] Strategic Concerns - Despite positive financial results, there are lingering worries about the company's financing strategy, which could impact future growth and stability [1]

Core Insights - The software giant is making significant investments to establish itself as a leading cloud provider in the AI era [1] Group 1: Company Strategy - The company is heavily investing in cloud infrastructure to support its ambitions in artificial intelligence [1] - The focus on becoming a major player in the cloud market indicates a strategic shift towards AI-driven solutions [1] Group 2: Industry Implications - The move reflects a broader trend in the industry where companies are prioritizing cloud capabilities to leverage AI technologies [1] - Increased competition in the cloud sector is expected as more firms aim to capitalize on the growing demand for AI services [1]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Oracle posted disappointing cloud revenue, suggesting it will take longer than expected for the company’s recent huge AI bookings to pay off. https://t.co/rKWO6P8iQ5 ...

本文源自：金融界AI电报 甲骨文第二财季营收161亿美元，去年同期140.59亿美元。 ...

Core Viewpoint - Oracle Corp. is experiencing a significant decline in its stock price, down 33% since reaching an all-time high, amid skepticism regarding its financial health and the broader AI sector [2][3]. Financial Performance - Analysts expect Oracle to report an 11% increase in adjusted earnings per share and a 15% rise in revenue, with gross margins projected to be nearly 69%, down from 71% a year earlier [6]. - Capital expenditures are projected to be $8.2 billion, significantly higher than less than $4 billion a year ago, while free cash flow is estimated to be negative $5.9 billion, worsening from $2.7 billion a year earlier [6]. Market Sentiment - There is a perception issue regarding Oracle's growth strategy, with concerns about how the company is financing its expansion and the sustainability of its customer base [4][6]. - Investors are particularly focused on Oracle's relationship with OpenAI, especially given the recent challenges faced by the startup [8]. Valuation Concerns - Oracle's shares are trading at approximately 30 times estimated earnings for the next 12 months, which is significantly higher than its 10-year average of 17 and above the Nasdaq 100 Index's multiple of 26 [9]. Investor Behavior - Some investors are hesitant to buy Oracle shares at the moment, preferring to wait for evidence of margin improvement and effective execution of growth strategies [10].

每经AI快讯，12月11日消息，甲骨文第二财季调整后营收161亿美元，预估162.1亿美元，去年同期 140.59亿美元。第二季度云基础设施(IaaS)收入为41亿美元，预计为40.9亿美元。财报发布后，甲骨文美 股盘后跌近6%。 ...

Financial Performance - Q2 total revenues reached $16.1 billion, up 14% in USD and 13% in constant currency[2] - Total revenues for Q2 fiscal 2026 reached $16.0 billion, a 14% increase compared to $14.0 billion in Q2 fiscal 2025[16] - Total revenues for the six months ended November 30, 2025, were $30.98 billion, representing a 13% increase compared to $27.36 billion in the same period of 2024[24] - Total revenues for Q2 Fiscal 2026 reached $15,058 million, reflecting a 13% growth compared to the same quarter last year[36] - The total revenues for the year-to-date period amounted to $30.9 billion, reflecting strong performance across the business[37] Income and Earnings - Q2 GAAP net income was $6.1 billion, up 95% year-over-year, while non-GAAP net income increased by 57% to $6.6 billion[3][5] - Net income for Q2 fiscal 2026 was $6.13 billion, a significant increase of 95% compared to $3.15 billion in Q2 fiscal 2025[16] - The company reported a net income of $9.06 billion for the six months ended November 30, 2025, a 49% increase from $6.08 billion in the same period of 2024[21] - Net income increased to $9.062 billion, a 49% rise from $6.086 billion in the previous year, resulting in diluted earnings per share of $3.11, up 46% from $2.13[24] - GAAP net income for Q2 Fiscal 2026 was $15,420 million, up from $12,440 million in Q2 Fiscal 2025, marking a 24% increase[33] Earnings Per Share - GAAP earnings per share rose by 91% to $2.10, and non-GAAP earnings per share increased by 54% to $2.26[3][5] - Diluted earnings per share for Q2 fiscal 2026 were $2.10, up 91% from $1.10 in Q2 fiscal 2025[16] - Diluted earnings per share of $3.11, up 46% from $2.13[24] Cash Flow and Expenses - Operating cash flow for the last twelve months was $22.3 billion, reflecting a 10% increase[4] - Free cash flow for the trailing four quarters was $9,542 million, with a year-over-year growth rate of 19%[33] - Operating cash flow as a percentage of net income was 145% in Q2 Fiscal 2026, down from 173% in the previous year, indicating a change in cash efficiency[33] - Total operating expenses for the six months ended November 30, 2025, were $21.98 billion, a 15% increase from $19.16 billion in the same period of 2024[21] Cloud Business - Cloud revenues grew by 34% in USD to $8.0 billion, with Cloud Infrastructure (IaaS) revenue up 68% to $4.1 billion[6] - Oracle's Multicloud database business grew by 817% in Q2, indicating strong market demand[5] - Cloud revenues for the six months ended November 30, 2025, were $15.16 billion, representing a 31% increase from $11.56 billion in the same period of 2024[21] - Cloud revenues for Q2 Fiscal 2026 were $7,970 million, representing a 31% growth year-over-year[36] Assets and Liabilities - Total current assets rose to $34.366 billion, up from $24.579 billion as of May 31, 2025, driven by increases in cash and cash equivalents and trade receivables[29] - Total assets increased to $204.984 billion from $168.361 billion, reflecting growth in both current and non-current assets[29] - The company’s total non-current liabilities increased to $136.732 billion from $114.749 billion, primarily due to higher borrowings[29] Research and Development - Research and development expenses for Q2 fiscal 2026 were $668 million, compared to $657 million in Q2 fiscal 2025, reflecting a 2% increase[17] Tax and Amortization - The effective GAAP tax rate for Q2 fiscal 2026 was 3.3%, compared to 7.1% in Q2 fiscal 2025[17] - The effective GAAP tax rate for the first half of fiscal 2026 was 7.2%, compared to 7.3% in the same period of 2025[25] - Estimated future annual amortization expense related to intangible assets is projected to be $812 million for the remainder of fiscal 2026[25] Dividends and Stock-Based Compensation - The board declared a quarterly cash dividend of $0.50 per share, payable on January 23, 2026[7] - Total stock-based compensation for the six months ended November 30, 2025, was $2.280 billion, compared to $2.176 billion in the same period of 2024[25] Strategic Focus - Oracle is committed to chip neutrality, focusing on collaboration with various CPU and GPU suppliers[5] - The company is building 72 Oracle Multicloud datacenters, enhancing its cloud infrastructure capabilities[5] - The financial results indicate a robust growth trajectory, with a focus on strategic initiatives and market expansion[39] - Future performance will be evaluated based on these non-GAAP measures, which are integral to the company's operational decision-making[39]