Business
Oracle notches $ 10.5 bn in total revenue in fiscal 2022 third quarter
* Total Revenue $10.5 billion, up 4% and up 7% in constant currency
* Total Cloud Revenue (IaaS plus SaaS) of $2.8 billion, up 24% and up 26% in constant currency
* Fusion ERP Cloud Revenue up 33% and up 35% in constant currency
* NetSuite ERP Cloud Revenue up 27% and up 29% in constant currency
Oracle Corporation (NYSE: ORCL) announced fiscal 2022 Q3 results. Total quarterly revenues were up 4% year-over-year in USD and up 7% in constant currency to $10.5 billion. Cloud services and license support revenues were up 5% in USD and up 8% in constant currency to $7.6 billion. Cloud license and on-premise license revenues were up 1% in USD and up 4% in constant currency to $1.3 billion.
Q3 GAAP operating income was $3.8 billion, down 1% in USD and up 3% in constant currency. Non-GAAP operating income was $4.8 billion, up 1% in USD and up 4% in constant currency. GAAP operating margin was 36%, and non-GAAP operating margin was 46%. GAAP net income was $2.3 billion, and non-GAAP net income was $3.1 billion.
Q3 GAAP earnings per share was $0.84 while non-GAAP earnings per share was $1.13, down 3% in USD and up 1% in constant currency. Q3 earnings per share was lowered by $0.05 primarily because of a decline in the share price of revolutionary gene sequencing company Oxford Nanopore, and an operating loss at Ampere, the maker of the world’s fastest ARM Server Chips. We remain confident that our investments in these two cutting-edge technology companies will deliver very strong returns for Oracle.
Short-term deferred revenues were $7.9 billion. Operating cash flow was $10.4 billion during the trailing twelve months.
“In Q3, Oracle delivered over 7% constant currency revenue growth—our highest quarterly organic revenue growth rate since we began our transition to the cloud,” said Oracle CEO, Safra Catz. “This strong top line growth was coupled with a solid non-GAAP constant currency operating profit growth of 4%, but the big story is that our overall revenue growth is being driven by both our rapidly growing Cloud Infrastructure and Cloud Applications businesses. Q3 Cloud Infrastructure revenue was up 47% in constant currency. Q3 Cloud Applications growth was led by Fusion ERP, which was up 35% in constant currency and NetSuite ERP which was up 29% in constant currency. Total Cloud revenue which includes Cloud Infrastructure and Cloud Applications is now over $11 billion a year.”
“In Q3, Oracle completed development of the multi-cloud version of our MySQL HeatWave open-source database,” said Oracle Chairman and CTO, Larry Ellison. “The MySQL HeatWave database is already running in the Oracle Gen2 Cloud. In a few weeks, MySQL HeatWave will also be available in the Amazon Cloud and the Microsoft Azure Cloud. MySQL HeatWave was designed to compete with Amazon’s version of MySQL called Aurora, Snowflake and other popular cloud databases. What customer and database analysts are saying about Oracle’s new MySQL HeatWave database is simply astonishing. Here are a couple of examples of what the database analysts are saying.”
“Oracle have shown AWS, Snowflake and other database providers how to design and architect a True MySQL Cloud Database. Customers can expect MySQL HeatWave to perform about 7 times faster than Amazon Redshift or Snowflake at 2-5 times lower cost. The benefits over Amazon Aurora are even greater.”
The following is an approved quote from the database analysts at Wikibon:
“We believe that the technology underlying MySQL HeatWave is an inflection point in database design and architecture. The MySQL HeatWave technology is by far the best in the market now, and we believe that the MySQL HeatWave competitive advantage is sustainable for at least three years. We also believe customers will demand that AWS provide similar converged functionality as HeatWave.”
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 April 8, 2022, with a payment date of April 21, 2022.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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