REDWOOD SHORES, Calif., Dec. 17, 2018 /PRNewswire/ -- Oracle Corporation (NYSE: ORCL) today announced fiscal 2019 Q2 results. Total Revenues were unchanged at $9.6 billion and up 2% in constant currency, compared to Q2 last year. Total Cloud Services and License Support plus Cloud License and On-Premise License revenues were up 1% to $7.9 billion. Cloud Services and License Support revenues were $6.6 billion, while Cloud License and On-Premise License revenues were $1.2 billion.
GAAP Operating Income was up 2% to $3.1 billion and GAAP Operating Margin was 32%. Non-GAAP Operating Income was down 2% to $4.1 billion and non-GAAP Operating Margin was 43%. GAAP Net Income was up 5% to $2.3 billion and non-GAAP Net Income was up 3% to $3.1 billion. GAAP Earnings Per Share was up 18% to $0.61 while non-GAAP Earnings Per Share was up 16% to $0.80.
Short-term deferred revenues were up 3% to $8.2 billion compared to a year ago. Operating Cash Flow was up 5% to $15.2 billion during the trailing twelve months.
Without the strengthening of the U.S. dollar compared to foreign currencies, Oracle's reported GAAP and non-GAAP Total Revenues would have been approximately $140 million higher, and Earnings Per Share would have been 2 cents higher in comparison to as reported amounts for fiscal 2019 Q2.
"In Q2, non-GAAP earnings per share grew 19% in constant currency," said Oracle CEO, Safra Catz. "In addition to our strong EPS growth, free cash flow grew 10% to $13.8 billion over the previous twelve months. I am confident that we will continue to record strong EPS and free cash flow growth during the second half of this fiscal year."
"Oracle's two cloud ERP businesses, Fusion ERP and NetSuite ERP, delivered a combined revenue growth rate of 32% in Q2," said Oracle CEO, Mark Hurd. "With nearly 6,000 Fusion ERP customers and over 16,000 NetSuite ERP customers, Oracle is the clear leader in cloud ERP. ERP has always been the largest segment of the enterprise applications business, so we have lots of room to grow as customers migrate from their traditional on-premise ERP to the Oracle Fusion ERP Cloud."
"The Oracle Autonomous Database for data warehousing and transaction processing is the world's only self-driving database," said Oracle CTO, Larry Ellison. "The Oracle Autonomous Database lowers costs by eliminating human labor and increases reliability by eliminating human error. And Oracle is the only database that automatically patches and upgrades itself while running."
The Board of Directors declared a quarterly cash dividend of $0.19 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on January 16, 2019, with a payment date of January 30, 2019.