Stock Analysis on Net
Stock Analysis on Net

Oracle Corp. (NYSE:ORCL)

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Income Statement
Quarterly Data

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Oracle Corp., consolidated income statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Aug 31, 2026 May 31, 2026 Feb 28, 2026 Nov 30, 2025 Aug 31, 2025 May 31, 2025 Feb 28, 2025 Nov 30, 2024 Aug 31, 2024 May 31, 2024 Feb 29, 2024 Nov 30, 2023 Aug 31, 2023 May 31, 2023 Feb 28, 2023 Nov 30, 2022 Aug 31, 2022 May 31, 2022 Feb 28, 2022 Nov 30, 2021 Aug 31, 2021 May 31, 2021 Feb 28, 2021 Nov 30, 2020 Aug 31, 2020
Cloud
Software
Cloud services and license support
Cloud license and on-premise license
Hardware
Services
Revenues
Cloud and software (previously: Cloud services and license support)
Hardware
Services
Cost of revenues
Gross profit
Sales and marketing
Research and development
General and administrative
Amortization of intangible assets
Acquisition related and other
Restructuring
Operating income (loss)
Interest expense
Non-operating income (expenses), net
Income (loss) before income taxes
(Provision for) benefit from income taxes
Net income (loss)
Preferred stock dividends
Net income (loss) available to common shareholders

Based on: 10-Q (reporting date: 2026-08-31), 10-K (reporting date: 2026-05-31), 10-Q (reporting date: 2026-02-28), 10-Q (reporting date: 2025-11-30), 10-Q (reporting date: 2025-08-31), 10-K (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-Q (reporting date: 2024-08-31), 10-K (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-Q (reporting date: 2023-08-31), 10-K (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-K (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-K (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31).


Total revenues exhibit a sustained long-term upward trajectory, growing from 9,367 million USD in August 2020 to 19,345 million USD by August 2026. A significant shift in reporting structure occurs in August 2024, where revenue is bifurcated into Cloud and Software categories. The Cloud segment demonstrates aggressive growth, expanding from 5,623 million USD in August 2024 to 11,607 million USD by August 2026, indicating a strategic pivot toward cloud-based service delivery.

Revenue Stream Dynamics
Prior to the 2024 reporting change, Cloud services and license support provided a steady growth base, rising from 6,947 million USD to 10,234 million USD. Hardware and services revenues remained relatively stable throughout the period, although services experienced a moderate increase from approximately 720 million USD to 1,414 million USD. Cloud license and on-premise license revenues showed high quarterly volatility, characterized by recurring seasonal peaks.
Profitability and Margin Analysis
Gross profit generally increased from 7,487 million USD in August 2020 to 11,612 million USD in August 2026. However, this growth was accompanied by a substantial increase in the cost of revenues, which rose from 1,880 million USD to 7,733 million USD over the same period. This suggests that while scale is increasing, the cost of delivering cloud services is becoming a more significant component of the expense structure.
Operating Expense Trends
Sales and marketing expenses remained remarkably consistent, fluctuating primarily between 1,800 million USD and 2,300 million USD. Research and development spending showed a gradual climb from 1,589 million USD to approximately 2,400 million USD, reflecting continued investment in product evolution. Amortization of intangible assets saw a sharp increase in late 2022, peaking at 919 million USD before trending downward toward 202 million USD by August 2026.
Operating and Net Income Performance
Operating income recovered from a significant loss of 824 million USD in November 2021 to reach a peak of 6,728 million USD by August 2026. Net income shows higher volatility due to non-operating items and tax provisions, with a notable spike to 6,135 million USD in November 2025, driven by a substantial non-operating income gain of 2,668 million USD.
Financial Obligations and Costs
Interest expenses have trended upward, rising from 614 million USD in August 2020 to 1,428 million USD by August 2026. This steady increase suggests an expansion of the debt load to fund operations or strategic acquisitions. The appearance of preferred stock dividends in 2026 indicates a change in the capital structure toward the end of the analyzed period.