Oracle delivers mixed Q1 results

The company beat targets for EPS but missed on revenue.

Enterprise software giant Oracle reported mixed financial results on Monday and saw its shares drop nearly five percent after hours.

The company's non-GAAP net income for Q1 2018 was $2.27 billion, with non-GAAP earnings per share coming to 71 cents. Total revenues rang up to $9.19 billion. Wall Street was looking for non-GAAP earnings of 69 cents a share on revenue of $9.31 billion.

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Elsewhere on the balance sheet, Oracle's cloud services and license support revenues came to $6.6 billion. Meanwhile, cloud license and on-premise license revenue decreased nine percent to $867 million. Oracle's hardware revenue decreased 10 percent to $904 million, and services revenue was dropped nine percent $813 million.

In a trio of canned statements, Oracle's top brass touted the strength and momentum of Oracle platforms, with co-CEO Mark Hurd revealing that Oracle Fusion ERP now has 5,500 customers.

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Meanwhile, Oracle found and CTO Larry Ellison used the financial results to highlight how Oracle's Autonomous Database stacks up against the competition.

"Oracle's Autonomous Database is faster, easier-to-use, more reliable, more secure and much lower cost than Amazon's databases," Ellison said. "And Oracle is the only database that can automatically patch itself while running to protect your data from data theft. These are just some of the reasons why Amazon uses the Oracle database to run its business."

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Oracle didn't provide exact guidance for its current in Monday's release. Analysts are looking for Q2 earnings of 79 cents a share on revenue of $9.84 billion.

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