Victory Capital Management Inc. lessened its holdings in shares of Kite Realty Group Trust ( NYSE:KRG – Free Report ) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,653 shares of the real estate investment trust’s stock after selling 13,087 shares during the period. Victory Capital Management Inc. owned about 0.06% of Kite Realty Group Trust worth $3,231,000 at the end of the most recent reporting period. A number of other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Kite Realty Group Trust by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,281,659 shares of the real estate investment trust’s stock valued at $73,442,000 after purchasing an additional 190,380 shares during the period. Millennium Management LLC boosted its holdings in shares of Kite Realty Group Trust by 17.7% in the second quarter. Millennium Management LLC now owns 2,566,016 shares of the real estate investment trust’s stock valued at $57,427,000 after purchasing an additional 386,566 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Kite Realty Group Trust by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 2,187,428 shares of the real estate investment trust’s stock valued at $48,955,000 after purchasing an additional 32,493 shares during the period. American Century Companies Inc. lifted its holdings in Kite Realty Group Trust by 16.6% during the second quarter. American Century Companies Inc. now owns 2,080,688 shares of the real estate investment trust’s stock worth $46,566,000 after buying an additional 295,708 shares during the period. Finally, LSV Asset Management lifted its holdings in Kite Realty Group Trust by 15.8% during the second quarter. LSV Asset Management now owns 1,071,300 shares of the real estate investment trust’s stock worth $23,976,000 after buying an additional 146,300 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock. Insider Activity at Kite Realty Group Trust In other Kite Realty Group Trust news, Director Steven P. Grimes sold 37,295 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $26.80, for a total value of $999,506.00. Following the sale, the director now directly owns 732,252 shares of the company’s stock, valued at approximately $19,624,353.60. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link . 2.00% of the stock is owned by insiders. Kite Realty Group Trust Price Performance Kite Realty Group Trust Increases Dividend The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 9th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 3.94%. This is an increase from Kite Realty Group Trust’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, January 9th. Kite Realty Group Trust’s dividend payout ratio is presently -2,700.00%. Analyst Ratings Changes KRG has been the subject of a number of analyst reports. Piper Sandler upped their target price on Kite Realty Group Trust from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. KeyCorp upped their target price on Kite Realty Group Trust from $28.00 to $31.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Raymond James upgraded Kite Realty Group Trust from a “market perform” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Friday, August 16th. Compass Point upped their target price on Kite Realty Group Trust from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company upgraded Kite Realty Group Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $23.00 to $26.00 in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.86. Check Out Our Latest Stock Analysis on KRG Kite Realty Group Trust Profile ( Free Report ) Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company’s primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets. Read More Five stocks we like better than Kite Realty Group Trust What is the Euro STOXX 50 Index? Vertiv’s Cool Tech Makes Its Stock Red-Hot Top Biotech Stocks: Exploring Innovation Opportunities MarketBeat Week in Review – 11/18 – 11/22 What does consumer price index measure? 2 Finance Stocks With Competitive Advantages You Can’t Ignore Receive News & Ratings for Kite Realty Group Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kite Realty Group Trust and related companies with MarketBeat.com's FREE daily email newsletter .Tafara Gapare scored a season-high 19 points off the bench and Derik Queen added 15 points and eight rebounds, lifting Maryland to a 91-67 victory over Bucknell on Wednesday in College Park, Md. Gapare made 7 of 9 shots from the floor -- including 3 of 4 from 3-point range. He highlighted his performance by unleashing a personal 10-point run in the second half to help send the Terrapins (6-1) to their third straight win. Gapare, who made one 3-pointer prior to Wednesday's game, was limited to just three minutes and was held without a point in Maryland's 76-75 victory versus Villanova on Sunday. Julian Reese scored 14 points for the Terrapins, who shot a robust 50.0 percent from the floor and scored 22 points off 20 turnovers. Selton Miguel drained three 3-pointers to score all 13 of his points in the first half. That effort came three days after being held without a point versus Villanova. Bucknell's Ruot Bijiek sank four 3-pointers to highlight his 20-point performance. Josh Bascoe scored 10 points and Brandon McCreesh added nine off the bench for the Bison (4-4), who lost two in a row for the second time this season. Maryland answered Bijiek's layup by scoring 12 straight points to take a 15-2 lead. Miguel keyed the spurt by draining two 3-pointers and a jumper. Bucknell tried to keep pace and trailed 25-12 after McCreesh's layup, but the Terrapins kept their foot on the gas to steadily build a 25-point lead late in the first half. The Bison made a modest charge to begin the second half, trimming the deficit to 16 at 58-42 on Bijiek's fourth 3-pointer of the game. Gapare singlehandedly halted the momentum by sandwiching 3-pointers around a layup and an emphatic dunk over the next five possessions. Reese sank a pair of free throws to cap the 12-0 run, extending Maryland's lead to 70-42 with 11:39 to play. The Terrapins were not threatened the rest of the way. --Field Level Media
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LAS VEGAS — (Nasdaq: RMNI), a global provider of end-to-end enterprise software support and innovation solutions, the leading third-party support provider for Oracle, SAP, and VMware software, today announced , a single-pane-of-glass management tool that unifies and simplifies the administration and monitoring of Rimini ConnectTM, Rimini Street’s industry-leading suite of interoperability solutions. Immediately available for and for additional Rimini Connect solutions in the future, Rimini Connect Console is the latest advancement in Rimini Street’s interoperability solutions suite which are designed to extend the useful life of existing systems by insulating applications from changes in dynamic technology stacks and compatibility standards that may otherwise require costly upgrades or custom development. Rimini Connect Console unifies and automates several important capabilities into one centralized management tool, including: “Maintaining application interoperability with constant updates to dynamic technology stacks is a challenging, costly and never-ending effort that consumes potentially millions of dollars in forced software upgrades or development of custom, highly technical solutions,” said Desmond Whitt, vice president & general manager of Rimini Connect, adding that “Rimini Connect solutions future-proof your enterprise software against interoperability issues and Rimini Connect Console is designed to unify and streamline the monitoring and management of Rimini Connect solutions at scale, beginning with Rimini Connect for Browsers.” Built on Rimini Street’s experience of successfully resolving thousands of compatibility issues for clients since 2005, Rimini Connect provides a suite of seamless interoperability solutions that can resolve compatibility issues without requiring an upgrade of your core enterprise software. For example, Rimini Connect for Browsers enables IT teams to implement the latest releases of browsers without delay or worry of negative impact to current application releases. It also strategically decouples existing enterprise software from technology stack version dependencies, providing the flexibility needed for organizations to take control of their IT roadmap. , a leading Australian retailer with over 167 stores nationwide and already a Rimini Street client for support of their SAP systems, deployed Rimini Connect for Browsers when Microsoft announced it would retire Internet Explorer 11. They needed to ensure their mission-critical applications would not be jeopardized by the change in browser availability or require an expensive, disruptive upgrade to maintain compatibility. “This project really was a collaborative experience with the Rimini Street team.... For us, it was about making this transition as seamlessly as possible without any interruption to business, and Rimini Street helped us achieve that,” said Michael Howard, chief operating officer at Officeworks. Known for helping clients maximize the potential of their IT investments, gain flexibility, and enjoy better support and savings from a trusted partner, Rimini Street continues to invest in interoperability solutions like Rimini Connect Console that help clients at scale to future-proof and extend the useful lifespan of their existing, robust systems without worrying about changing compatibility standards. “Rimini Connect Console is the latest of our continuously expanding offerings to help organizations achieve their goal of growth and profitability while reducing risk,” said Whitt. “We not only help extend the life of systems, we also help make it easier to manage them, lessening overhead costs and freeing teams to focus on higher value priorities for the business.” Learn more about how to remove interoperability challenges without upgrades by choosing . Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support and innovation solutions and the leading third-party support provider for Oracle, SAP and VMware software. The Company offers a comprehensive portfolio of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software. The Company has signed thousands of contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who selected Rimini Street as their trusted, proven mission-critical enterprise software solutions provider and achieved better operational outcomes, realized billions of US dollars in savings and funded AI and other innovation investments. To learn more, please visit , and connect with Rimini Street on X, Facebook, Instagram, and LinkedIn. Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “anticipate,” “believe,” “continue,” “could,” “currently,” “estimate,” “expect,” “future,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seem,” “seek,” “should,” “will,” “would” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, adverse developments in and costs associated with defending pending litigation or any new litigation, including the disposition of pending motions to appeal and any new claims; additional expenses to be incurred in order to comply with injunctions against certain of our business practices and the impact on future period revenue and costs; changes in the business environment in which Rimini Street operates, including the impact of any macro-economic trends and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our ability to grow our revenue, manage our cost of revenue and accurately forecast revenue; the expected impact of recent and anticipated future reductions in our workforce and associated reorganization costs; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain additional qualified personnel, including sales personnel, and retain key personnel; our business plan, our ability to grow in the future and our ability to achieve and maintain profitability; our plans to wind down the offering of services for Oracle PeopleSoft products; the volatility of our stock price and related compliance with stock exchange requirements; our need and ability to raise equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, a failure by us to establish adequate tax reserves, or our ability to realize benefits from our net operating losses; the impact of environmental, social and governance (ESG) matters; our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the transition to SOFR or other interest rate benchmarks; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street’s equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on October 30, 2024, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication. Janet Ravin VP, Global Communications Rimini Street, Inc. +1 702 285-3532Flames visit the Senators after shootout win
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When I started losing weight over the summer, it was kind of pleasant. I swapped my "fat Dave" pants for my "fit Dave" pants and rotated in the dress shirts with the smaller collars. But then football season rolled around. I exercise all year so I can snack heroically while watching college games, but this year, the Twizzlers, Bugles and peanut butter M&Ms sat on the kitchen island, barely touched by me. Mentally, I wanted to eat, but physically I just couldn't choke down more than a bite or two. Dave Bundy poses for a portrait, Thursday, Aug. 22, 2024, in Lincoln. I think my wife figured it out first, then the doctors confirmed, that the cancer I wrote about in 2016 — bile duct cancer that sat dormant for years after radiation and chemotherapy — was back and spreading. I was first diagnosed with cancer 20 years ago, when my wife and I had a 6-year-old, a 3-year-old and twins about to be born. The stakes seemed high. I needed to live to help raise these kids. And through medicine and miracles, I survived. That cancer disappeared, though it may have figured into the complications that gave rise to my new cancer in 2016 and now. People are also reading... This time around, the kids are 26, 23 and the twins are 20. There's still plenty of parenting to do (and eventually, maybe, some grandparenting), but we're in a much better place than two decades ago. No one is in diapers, for example, and theoretically, they know how to clean up after themselves. It's common to talk about battling cancer. For me, the relationship has changed. I see my cancer as a voyage, and the end, when it comes, won't be a matter of losing; it'll be a matter of reaching a destination. It kind of takes the pressure off. I'm about a quarter of the way through my 24-week chemo cycle. I'm older, skinnier and in worse physical shape than eight years ago, so the journey is more uphill, but I am again inspired by the care providers, my neighbors in the chemo room, family, friends and readers who have become friends. Folks may worry about where our nation and our society is headed. But I can assure that on a more granular level — person to person, regardless of political bent — we are in a good place, metaphorically and literally. My spirits have been lifted by heartfelt prayers and warm wishes. I'll be getting another six-hour chemo treatment this week, right before Thanksgiving. I may not eat as much turkey and stuffing this year, but what I eat will be with my wife and my four kids, our first holiday together under one roof in three years. And I'll be nourished by the kindness of so many in our community. Naming names or not Speaking of gratitude, after the flurry of election-related letters to the editor is behind us, I wanted to say thanks and share my great respect for those letter writers. Regardless of their views, letter writers care enough to submit a piece and have the courage to sign their name to it — their real name. What I have little use — and no respect — for are profane and menacing letters, mailed by someone with a fake name, to the homes of our letter writers. At least three letter writers have received personal and toxic letters through the mail at their homes. Presumably, this person, who seems to use a pseudonym, got the addresses via readily available public records. If you've got a beef with a letter writer, be a letter writer yourself. Show the same courage and integrity as our writers. You stand a much better chance of making your point if you step out from behind the curtain of anonymity. A last thought on gratitude On occasion, we make spelling or usage errors in the paper, and readers relish in pointing them out. I hate errors, but if we make them, I like knowing about them. Often times I will tell the person who saw the error that my seventh-grade grammar teacher, Mrs. Max, would have some choice words for me. Mrs. Max was, indeed, a life-changing teacher. She did far more than show us how to diagram sentences and help us memorize linking verbs. She wasn't cool. She wasn't fun. But she cared and taught her students a precision and professionalism in communication that serves (or abandons) me every day. Last winter, I tracked her down. Gertrude Max was 93 years old and living in an assisted care facility in suburban Kansas City where I grew up. Though she was a stickler for good cursive, I typed her a letter and sent it via postal service. A few weeks later, my cell phone rang on a Saturday night. It was a 913 area code, from where I grew up. I answered. It was Mrs. Max., her voice every bit as authoritative as it was more than four decades ago. I just wanted to tell her how grateful I was to have her as a teacher. What she taught me I use every day. Over the summer, I found out Mrs. Max had died. When I talked to her on the phone months before, she was ageless in my mind, peering at me over reading glasses hanging perilously close to the tip of her nose. I am so grateful I acted on impulse and was able to thank her. And I'm so glad she called me. That, to me, was yet another lesson from her: Gratitude shared enriches us all. If you try, I bet you can be grateful for something each and every day. Today, I'm grateful you read this far. Thanks. Dave Bundy is editor of the Lincoln Journal Star. Reach him at dbundy@journalstar.com . Catch the latest in Opinion Get opinion pieces, letters and editorials sent directly to your inbox weekly!NonePhiladelphia takes on Vegas after overtime win Vegas Golden Knights (13-6-2, in the Pacific Division) vs. Philadelphia Flyers (9-10-2, in the Metropolitan Division) Philadelphia; Monday, 7 p.m. Canadian Press Nov 24, 2024 1:12 AM Nov 24, 2024 1:20 AM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Vegas Golden Knights (13-6-2, in the Pacific Division) vs. Philadelphia Flyers (9-10-2, in the Metropolitan Division) Philadelphia; Monday, 7 p.m. EST BOTTOM LINE: The Philadelphia Flyers host the Vegas Golden Knights after the Flyers took down the Chicago Blackhawks 3-2 in overtime. Philadelphia has a 5-6-0 record in home games and a 9-10-2 record overall. The Flyers are fourth in NHL play with 92 total penalties (averaging 4.4 per game). Vegas has a 5-4-2 record in road games and a 13-6-2 record overall. The Golden Knights have a 13-2-2 record in games they score at least three goals. Monday's game is the first time these teams meet this season. TOP PERFORMERS: Travis Konecny has 11 goals and 14 assists for the Flyers. Matvei Michkov has scored goals over the last 10 games. Pavel Dorofeyev has 10 goals and three assists for the Golden Knights. Alexander Holtz has scored goals over the past 10 games. LAST 10 GAMES: Flyers: 5-4-1, averaging 2.7 goals, five assists, 3.7 penalties and eight penalty minutes while giving up 2.9 goals per game. Golden Knights: 6-3-1, averaging 3.1 goals, 5.4 assists, 2.8 penalties and seven penalty minutes while giving up 2.7 goals per game. INJURIES: Flyers: None listed. Golden Knights: None listed. ___ The Associated Press created this story using technology provided by Data Skrive and data from Sportradar . The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up More Hockey San Jose brings losing streak into game against Los Angeles Nov 24, 2024 1:12 AM Flames visit the Senators after shootout win Nov 24, 2024 1:12 AM Panthers bring losing streak into matchup with the Capitals Nov 24, 2024 1:12 AM
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New York takes on St. Louis after Panarin's 2-goal showingAUSTIN, Texas , Dec. 9, 2024 /PRNewswire/ -- Oracle Corporation (NYSE: ORCL) today announced fiscal 2025 Q2 results. Total quarterly revenues were up 9% year-over-year, in both USD and constant currency, to $14.1 billion . Cloud services and license support revenues were up 12% year-over-year, in both USD and constant currency, to $10.8 billion . Cloud license and on-premise license revenues were up 1% in USD and up 3% in constant currency, to $1.2 billion . Q2 GAAP operating income was $4.2 billion . Non-GAAP operating income was $6.1 billion , up 10% in both USD and constant currency. GAAP operating margin was 30%, and non-GAAP operating margin was 43%. GAAP net income was $3.2 billion . Non-GAAP net income was $4.2 billion , up 12% in both USD and constant currency. Q2 GAAP earnings per share was $1.10 , up 24% in USD and up 23% in constant currency, while non-GAAP earnings per share was $1.47 , up 10% in both USD and constant currency. Short-term deferred revenues were $9.4 billion . Over the last twelve months, operating cash flow was $20.3 billion and free cash flow was $9.5 billion . "Record level AI demand drove Oracle Cloud Infrastructure revenue up 52% in Q2, a much higher growth rate than any of our hyperscale cloud infrastructure competitors," said Oracle CEO, Safra Catz . "Growth in the AI segment of our Infrastructure business was extraordinary—GPU consumption was up 336% in the quarter—and we delivered the world's largest and fastest AI SuperComputer scaling up to 65,000 NVIDIA H200 GPUs. With our remaining performance obligation (RPO) up 50% to $97 billion , we believe our already impressive growth rates will continue to climb even higher. This fiscal year, total Oracle Cloud revenue should top $25 billion ." "Oracle Cloud Infrastructure trains several of the world's most important generative AI models because we are faster and less expensive than other clouds," said Oracle Chairman and CTO, Larry Ellison . "And we just signed an agreement with Meta—for them to use Oracle's AI Cloud Infrastructure—and collaborate with Oracle on the development of AI Agents based on Meta's Llama models. The Oracle Cloud trains dozens of specialized AI models and embeds hundreds of AI Agents in cloud applications. For example, Oracle's AI Agents automate drug design, image and genomic analysis for cancer diagnostics, audio updates to electronic health records for patient care, satellite image analysis to predict and improve agricultural output, fraud and money laundering detection, dual-factor biometric computer logins, and real time video weapons detection in schools. Oracle trained AI models and AI Agents will improve the rate of scientific discovery, economic development and corporate growth throughout the world. The scale of the opportunity is unimaginable." The board of directors declared a quarterly cash dividend of $0.40 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on January 9, 2025 , with a payment date of January 23, 2025 . 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 www.oracle.com/investor/ . About Oracle Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com . Trademarks Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing. "Safe Harbor" Statement: Statements in this press release relating to future plans, expectations, beliefs, intentions and prospects, including the expectations for converting the Remaining Performance Obligations to revenue, future total Oracle Cloud revenue this fiscal year and the scale of opportunity for Oracle trained AI models and AI Agents, 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, including our AI products; our management of complex cloud and hardware offerings, including the sourcing of technologies and technology components; our ability to secure data center capacity; significant coding, manufacturing or configuration errors in our offerings; risks associated with acquisitions; economic, political and market conditions; information technology system failures, privacy and data security concerns; 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 www.oracle.com/investor/ . All information set forth in this press release is current as of December 9, 2024 . Oracle undertakes no duty to update any statement in light of new information or future events. ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) Three Months Ended November 30, % Increase % Increase (Decrease) % of % of (Decrease) in Constant 2024 Revenues 2023 Revenues in US $ Currency (1) REVENUES Cloud services and license support $ 10,806 77 % $ 9,639 74 % 12 % 12 % Cloud license and on-premise license 1,195 9 % 1,178 9 % 1 % 3 % Hardware 728 5 % 756 6 % (4 %) (3 %) Services 1,330 9 % 1,368 11 % (3 %) (3 %) Total revenues 14,059 100 % 12,941 100 % 9 % 9 % OPERATING EXPENSES Cloud services and license support 2,746 19 % 2,274 17 % 21 % 21 % Hardware 172 1 % 213 2 % (20 %) (19 %) Services 1,167 8 % 1,253 10 % (7 %) (7 %) Sales and marketing 2,190 16 % 2,093 16 % 5 % 5 % Research and development 2,471 18 % 2,226 17 % 11 % 11 % General and administrative 387 3 % 375 3 % 3 % 3 % Amortization of intangible assets 591 4 % 755 6 % (22 %) (22 %) Acquisition related and other 31 0 % 47 0 % (34 %) (33 %) Restructuring 84 1 % 83 1 % 0 % 1 % Total operating expenses 9,839 70 % 9,319 72 % 6 % 6 % OPERATING INCOME 4,220 30 % 3,622 28 % 17 % 16 % Interest expense (866) (6 %) (888) (7 %) (3 %) (3 %) Non-operating income (expenses), net 36 0 % (14) 0 % * * INCOME BEFORE INCOME TAXES 3,390 24 % 2,720 21 % 25 % 24 % Provision for income taxes 239 2 % 217 2 % 11 % 10 % NET INCOME $ 3,151 22 % $ 2,503 19 % 26 % 26 % EARNINGS PER SHARE: Basic $ 1.13 $ 0.91 Diluted $ 1.10 $ 0.89 WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic 2,790 2,746 Diluted 2,869 2,817 (1) We compare the percent change in the results from one period to another period using constant currency disclosure. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the exchange rates in effect on May 31, 2024, which was the last day of our prior fiscal year, rather than the actual exchange rates in effect during the respective periods. Movements in international currencies relative to the United States dollar during the three months ended November 30, 2024 compared with the corresponding prior year period increased our operating income by 1 percentage point. * Not meaningful ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) ($ in millions, except per share data) Three Months Ended November 30, % Increase (Decrease) in US $ % Increase (Decrease) in Constant Currency (2) 2024 2024 2023 2023 GAAP Non-GAAP GAAP Non-GAAP GAAP Adj. Non-GAAP GAAP Adj. Non-GAAP TOTAL REVENUES $ 14,059 $ - $ 14,059 $ 12,941 $ - $ 12,941 9 % 9 % 9 % 9 % TOTAL OPERATING EXPENSES $ 9,839 $ (1,876) $ 7,963 $ 9,319 $ (1,914) $ 7,405 6 % 8 % 6 % 8 % Stock-based compensation (3)
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