AUSTIN, 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) 1,170 (1,170) - 1,029 (1,029) - 14 % * 14 % * Amortization of intangible assets (4) 591 (591) - 755 (755) - (22 %) * (22 %) * Acquisition related and other 31 (31) - 47 (47) - (34 %) * (33 %) * Restructuring 84 (84) - 83 (83) - 0 % * 1 % * OPERATING INCOME $ 4,220 $ 1,876 $ 6,096 $ 3,622 $ 1,914 $ 5,536 17 % 10 % 16 % 10 % OPERATING MARGIN % 30 % 43 % 28 % 43 % 203 bp. 58 bp. 196 bp. 52 bp. INCOME TAX EFFECTS (5) $ 239 $ 820 $ 1,059 $ 217 $ 655 $ 872 11 % 22 % 10 % 21 % NET INCOME $ 3,151 $ 1,056 $ 4,207 $ 2,503 $ 1,259 $ 3,762 26 % 12 % 26 % 12 % DILUTED EARNINGS PER SHARE $ 1.10 $ 1.47 $ 0.89 $ 1.34 24 % 10 % 23 % 10 % DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 2,869 - 2,869 2,817 - 2,817 2 % 2 % 2 % 2 % (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A. (2) 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. (3) Stock-based compensation was included in the following GAAP operating expense categories: Three Months Ended Three Months Ended November 30, 2024 November 30, 2023 GAAP Adj. Non-GAAP GAAP Adj. Non-GAAP Cloud services and license support $ 158 $ (158) $ - $ 137 $ (137) $ - Hardware 8 (8) - 6 (6) - Services 53 (53) - 45 (45) - Sales and marketing 195 (195) - 174 (174) - Research and development 657 (657) - 573 (573) - General and administrative 99 (99) - 94 (94) - Total stock-based compensation $ 1,170 $ (1,170) $ - $ 1,029 $ (1,029) $ - (4) Estimated future annual amortization expense related to intangible assets as of November 30, 2024 was as follows: Remainder of fiscal 2025 $ 1,092 Fiscal 2026 1,639 Fiscal 2027 672 Fiscal 2028 635 Fiscal 2029 561 Fiscal 2030 522 Thereafter 558 Total intangible assets, net $ 5,679 (5) Income tax effects were calculated reflecting an effective GAAP tax rate of 7.1% and 8.0% in the second quarter of fiscal 2025 and 2024, respectively, and an effective non-GAAP tax rate of 20.1% and 18.8% in the second quarter of fiscal 2025 and 2024, respectively. The difference in our GAAP and non-GAAP tax rates in each of the second quarters of fiscal 2025 and 2024 was primarily due to the net tax effects related to stock-based compensation expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to an income tax benefit that was previously recorded due to the partial realignment of our legal entity structure. * Not meaningful ORACLE CORPORATION Q2 FISCAL 2025 YEAR TO DATE FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions, except per share data) Six 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 $ 21,324 78 % $ 19,186 75 % 11 % 11 % Cloud license and on-premise license 2,065 8 % 1,987 8 % 4 % 5 % Hardware 1,383 5 % 1,470 6 % (6 %) (5 %) Services 2,594 9 % 2,751 11 % (6 %) (5 %) Total revenues 27,366 100 % 25,394 100 % 8 % 8 % OPERATING EXPENSES Cloud services and license support 5,344 20 % 4,452 18 % 20 % 20 % Hardware 333 1 % 432 2 % (23 %) (22 %) Services 2,314 8 % 2,465 10 % (6 %) (6 %) Sales and marketing 4,226 15 % 4,118 16 % 3 % 3 % Research and development 4,777 18 % 4,442 17 % 8 % 8 % General and administrative 745 3 % 769 3 % (3 %) (3 %) Amortization of intangible assets 1,215 4 % 1,518 6 % (20 %) (20 %) Acquisition related and other 44 0 % 58 0 % (25 %) (25 %) Restructuring 157 1 % 222 1 % (29 %) (29 %) Total operating expenses 19,155 70 % 18,476 73 % 4 % 4 % OPERATING INCOME 8,211 30 % 6,918 27 % 19 % 19 % Interest expense (1,708) (6 %) (1,760) (7 %) (3 %) (3 %) Non-operating income (expenses), net 57 0 % (63) 0 % * * INCOME BEFORE INCOME TAXES 6,560 24 % 5,095 20 % 29 % 30 % Provision for income taxes 480 2 % 172 1 % 179 % 181 % NET INCOME $ 6,080 22 % $ 4,923 19 % 24 % 24 % EARNINGS PER SHARE: Basic $ 2.19 $ 1.80 Diluted $ 2.13 $ 1.75 WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: Basic 2,775 2,737 Diluted 2,860 2,820 (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 six months ended November 30, 2024 compared with the corresponding prior year period had no impact to our total revenues, total operating expenses and operating income. * Not meaningful ORACLE CORPORATION Q2 FISCAL 2025 YEAR TO DATE FINANCIAL RESULTS RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES (1) ($ in millions, except per share data) Six 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 $ 27,366 $ - $ 27,366 $ 25,394 $ - $ 25,394 8 % 8 % 8 % 8 % TOTAL OPERATING EXPENSES $ 19,155 $ (3,592) $ 15,563 $ 18,476 $ (3,676) $ 14,800 4 % 5 % 4 % 6 % Stock-based compensation (3) 2,176 (2,176) - 1,878 (1,878) - 16 % * 16 % * Amortization of intangible assets (4) 1,215 (1,215) - 1,518 (1,518) - (20 %) * (20 %) * Acquisition related and other 44 (44) - 58 (58) - (25 %) * (25 %) * Restructuring 157 (157) - 222 (222) - (29 %) * (29 %) * OPERATING INCOME $ 8,211 $ 3,592 $ 11,803 $ 6,918 $ 3,676 $ 10,594 19 % 11 % 19 % 12 % OPERATING MARGIN % 30 % 43 % 27 % 42 % 276 bp. 141 bp. 279 bp. 140 bp. INCOME TAX EFFECTS (5) $ 480 $ 1,500 $ 1,980 $ 172 $ 1,478 $ 1,650 179 % 20 % 181 % 21 % NET INCOME $ 6,080 $ 2,092 $ 8,172 $ 4,923 $ 2,198 $ 7,121 24 % 15 % 24 % 15 % DILUTED EARNINGS PER SHARE $ 2.13 $ 2.86 $ 1.75 $ 2.53 22 % 13 % 23 % 14 % DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING 2,860 - 2,860 2,820 - 2,820 1 % 1 % 1 % 1 % (1) This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A. (2) 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. (3) Stock-based compensation was included in the following GAAP operating expense categories: Six Months Ended Six Months Ended November 30, 2024 November 30, 2023 GAAP Adj. Non-GAAP GAAP Adj. Non-GAAP Cloud services and license support $ 299 $ (299) $ - $ 248 $ (248) $ - Hardware 14 (14) - 11 (11) - Services 96 (96) - 78 (78) - Sales and marketing 356 (356) - 309 (309) - Research and development 1,226 (1,226) - 1,057 (1,057) - General and administrative 185 (185) - 175 (175) - Total stock-based compensation $ 2,176 $ (2,176) $ - $ 1,878 $ (1,878) $ - (4) Estimated future annual amortization expense related to intangible assets as of November 30, 2024 was as follows: Remainder of fiscal 2025 $ 1,092 Fiscal 2026 1,639 Fiscal 2027 672 Fiscal 2028 635 Fiscal 2029 561 Fiscal 2030 522 Thereafter 558 Total intangible assets, net $ 5,679 (5) Income tax effects were calculated reflecting an effective GAAP tax rate of 7.3% and 3.4% in the first half of fiscal 2025 and 2024, respectively, and an effective non-GAAP tax rate of 19.5% and 18.8% in the first half of fiscal 2025 and 2024, respectively. The difference in our GAAP and non-GAAP tax rates in each of the first half of fiscal 2025 and 2024 was primarily due to the net tax effects related to stock-based compensation expense; acquisition related and other items, including the tax effects on amortization of intangible assets; and restructuring expense, partially offset by the net deferred tax effects related to an income tax benefit that was previously recorded due to the partial realignment of our legal entity structure. * Not meaningful ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS CONDENSED CONSOLIDATED BALANCE SHEETS ($ in millions) November 30, May 31, 2024 2024 ASSETS Current Assets: Cash and cash equivalents $ 10,941 $ 10,454 Marketable securities 370 207 Trade receivables, net 8,177 7,874 Prepaid expenses and other current assets 4,015 4,019 Total Current Assets 23,503 22,554 Non-Current Assets: Property, plant and equipment, net 26,432 21,536 Intangible assets, net 5,679 6,890 Goodwill, net 62,204 62,230 Deferred tax assets 11,984 12,273 Other non-current assets 18,681 15,493 Total Non-Current Assets 124,980 118,422 TOTAL ASSETS $ 148,483 $ 140,976 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Notes payable and other borrowings, current $ 8,162 $ 10,605 Accounts payable 2,679 2,357 Accrued compensation and related benefits 1,653 1,916 Deferred revenues 9,430 9,313 Other current liabilities 7,128 7,353 Total Current Liabilities 29,052 31,544 Non-Current Liabilities: Notes payable and other borrowings, non-current 80,462 76,264 Income taxes payable 9,553 10,817 Deferred tax liabilities 2,864 3,692 Other non-current liabilities 12,316 9,420 Total Non-Current Liabilities 105,195 100,193 Stockholders' Equity 14,236 9,239 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 148,483 $ 140,976 ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS ($ in millions) Six Months Ended November 30, 2024 2023 Cash Flows From Operating Activities: Net income $ 6,080 $ 4,923 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 1,712 1,510 Amortization of intangible assets 1,215 1,518 Deferred income taxes (601) (1,049) Stock-based compensation 2,176 1,878 Other, net 298 331 Changes in operating assets and liabilities: (Increase) decrease in trade receivables, net (451) 145 Decrease in prepaid expenses and other assets 676 301 Decrease in accounts payable and other liabilities (1,143) (1,048) Decrease in income taxes payable (1,685) (1,541) Increase in deferred revenues 454 149 Net cash provided by operating activities 8,731 7,117 Cash Flows From Investing Activities: Purchases of marketable securities and other investments (636) (515) Proceeds from sales and maturities of marketable securities and other investments 356 157 Acquisitions, net of cash acquired - (59) Capital expenditures (6,273) (2,394) Net cash used for investing activities (6,553) (2,811) Cash Flows From Financing Activities: Payments for repurchases of common stock (300) (600) Proceeds from issuances of common stock 307 426 Shares repurchased for tax withholdings upon vesting of restricted stock-based awards (898) (1,733) Payments of dividends to stockholders (2,221) (2,190) (Repayments of) proceeds from issuances of commercial paper, net (396) 1,749 Proceeds from issuances of senior notes and term loan credit agreements, net of issuance costs 11,837 - Repayments of senior notes and term loan credit agreements (9,700) (3,500) Other, net (276) 31 Net cash used for financing activities (1,647) (5,817) Effect of exchange rate changes on cash and cash equivalents (44) (10) Net increase (decrease) in cash and cash equivalents 487 (1,521) Cash and cash equivalents at beginning of period 10,454 9,765 Cash and cash equivalents at end of period $ 10,941 $ 8,244 ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS FREE CASH FLOW - TRAILING 4-QUARTERS (1) ($ in millions) Fiscal 2024 Fiscal 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 GAAP Operating Cash Flow $ 17,745 $ 17,039 $ 18,239 $ 18,673 $ 19,126 $ 20,287 Capital Expenditures (8,290) (6,935) (5,981) (6,866) (7,855) (10,745) Free Cash Flow $ 9,455 $ 10,104 $ 12,258 $ 11,807 $ 11,271 $ 9,542 Operating Cash Flow % Growth over prior year 68 % 13 % 18 % 9 % 8 % 19 % Free Cash Flow % Growth over prior year 76 % 20 % 68 % 39 % 19 % (6 %) GAAP Net Income $ 9,375 $ 10,137 $ 10,642 $ 10,467 $ 10,976 $ 11,624 Operating Cash Flow as a % of Net Income 189 % 168 % 171 % 178 % 174 % 175 % Free Cash Flow as a % of Net Income 101 % 100 % 115 % 113 % 103 % 82 % (1) To supplement our statements of cash flows presented on a GAAP basis, we use non-GAAP measures of cash flows on a trailing 4-quarter basis to analyze cash flow generated from operations. We believe free cash flow is also useful as one of the bases for comparing our performance with our competitors. The presentation of non-GAAP free cash flow is not meant to be considered in isolation or as an alternative to net income as an indicator of our performance, or as an alternative to cash flows from operating activities as a measure of liquidity. ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS SUPPLEMENTAL ANALYSIS OF GAAP REVENUES (1) ($ in millions) Fiscal 2024 Fiscal 2025 Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL REVENUES BY OFFERINGS Cloud services $ 4,635 $ 4,775 $ 5,054 $ 5,311 $ 19,774 $ 5,623 $ 5,937 $ 11,559 License support 4,912 4,864 4,909 4,923 19,609 4,896 4,869 9,765 Cloud services and license support 9,547 9,639 9,963 10,234 39,383 10,519 10,806 21,324 Cloud license and on-premise license 809 1,178 1,256 1,838 5,081 870 1,195 2,065 Hardware 714 756 754 842 3,066 655 728 1,383 Services 1,383 1,368 1,307 1,373 5,431 1,263 1,330 2,594 Total revenues $ 12,453 $ 12,941 $ 13,280 $ 14,287 $ 52,961 $ 13,307 $ 14,059 $ 27,366 AS REPORTED REVENUE GROWTH RATES Cloud services 30 % 25 % 25 % 20 % 25 % 21 % 24 % 23 % License support 2 % 2 % 1 % 0 % 1 % 0 % 0 % 0 % Cloud services and license support 13 % 12 % 12 % 9 % 12 % 10 % 12 % 11 % Cloud license and on-premise license (10 %) (18 %) (3 %) (15 %) (12 %) 7 % 1 % 4 % Hardware (6 %) (11 %) (7 %) (1 %) (6 %) (8 %) (4 %) (6 %) Services 2 % (2 %) (5 %) (6 %) (3 %) (9 %) (3 %) (6 %) Total revenues 9 % 5 % 7 % 3 % 6 % 7 % 9 % 8 % CONSTANT CURRENCY REVENUE GROWTH RATES (2) Cloud services 29 % 24 % 24 % 20 % 24 % 22 % 24 % 23 % License support 0 % 0 % 1 % 1 % 0 % 0 % 0 % 0 % Cloud services and license support 12 % 11 % 11 % 10 % 11 % 11 % 12 % 11 % Cloud license and on-premise license (11 %) (19 %) (3 %) (14 %) (12 %) 8 % 3 % 5 % Hardware (8 %) (12 %) (7 %) 0 % (7 %) (8 %) (3 %) (5 %) Services 1 % (3 %) (5 %) (6 %) (3 %) (8 %) (3 %) (5 %) Total revenues 8 % 4 % 7 % 4 % 6 % 8 % 9 % 8 % CLOUD SERVICES AND LICENSE SUPPORT REVENUES BY ECOSYSTEM Applications cloud services and license support $ 4,471 $ 4,474 $ 4,584 $ 4,642 $ 18,172 $ 4,769 $ 4,784 $ 9,552 Infrastructure cloud services and license support 5,076 5,165 5,379 5,592 21,211 5,750 6,022 11,772 Total cloud services and license support revenues $ 9,547 $ 9,639 $ 9,963 $ 10,234 $ 39,383 $ 10,519 $ 10,806 $ 21,324 AS REPORTED REVENUE GROWTH RATES Applications cloud services and license support 11 % 10 % 10 % 6 % 9 % 7 % 7 % 7 % Infrastructure cloud services and license support 15 % 14 % 13 % 12 % 14 % 13 % 17 % 15 % Total cloud services and license support revenues 13 % 12 % 12 % 9 % 12 % 10 % 12 % 11 % CONSTANT CURRENCY REVENUE GROWTH RATES (2) Applications cloud services and license support 11 % 9 % 10 % 6 % 9 % 7 % 7 % 7 % Infrastructure cloud services and license support 14 % 12 % 13 % 13 % 13 % 14 % 17 % 16 % Total cloud services and license support revenues 12 % 11 % 11 % 10 % 11 % 11 % 12 % 11 % GEOGRAPHIC REVENUES Americas $ 7,841 $ 8,067 $ 8,270 $ 8,945 $ 33,122 $ 8,372 $ 8,933 $ 17,305 Europe/Middle East/Africa 3,005 3,170 3,316 3,539 13,030 3,228 3,381 6,609 Asia Pacific 1,607 1,704 1,694 1,803 6,809 1,707 1,745 3,452 Total revenues $ 12,453 $ 12,941 $ 13,280 $ 14,287 $ 52,961 $ 13,307 $ 14,059 $ 27,366 (1) The sum of the quarterly information presented may vary from the year-to-date information presented due to rounding. (2) 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 and 2023 for the fiscal 2025 and fiscal 2024 constant currency growth rate calculations presented, respectively, rather than the actual exchange rates in effect during the respective periods. APPENDIX A ORACLE CORPORATION Q2 FISCAL 2025 FINANCIAL RESULTS EXPLANATION OF NON-GAAP MEASURES To supplement our financial results presented on a GAAP basis, we use the non-GAAP measures indicated in the tables, which exclude certain business combination accounting entries and expenses related to acquisitions, as well as other significant expenses including stock-based compensation, that we believe are helpful in understanding our past financial performance and our future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business based on these non-GAAP measures. Our non-GAAP financial measures reflect adjustments based on the following items, as well as the related income tax effects: View original content: https://www.prnewswire.com/news-releases/oracle-announces-fiscal-2025-second-quarter-financial-results-302326639.html SOURCE OracleTevogen Bio CEO Reflects on Public Support, Reaffirms Preserving Shareholder Value Remains His Priority, and Reinforces Options Including a Potential Share Buyback to Support Company ValueIs the NORAD Santa tracker safe from a government shutdown?
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Hyderabad: The task force south zone police raided a house at Bahadurpura and arrested six people where gambling was organized. An amount of Rs. 20,930 along with playing cards were seized from them. On information, the police raided the house at Kishanbagh and found the six accused playing three card games and placing bets. The organizer was collecting a huge commission from the participants for inviting them to play the game. The six people along with the cash were handed over to Bahadurpura police station. On November 7, officials arrested 13 people including two organisers, during a midnight raid at two illegal gaming houses, seized playing cards and cash amounting to ₹1,33,990/-. The raid was conducted within the limits of Jubilee Hills and Film Nagar police stations.
For some FSA dollars, it's use it or lose it at year's end, /PRNewswire/ -- WillowWood, a global leader in prosthetic solutions, is proud to announce its receipt of the prestigious Gold Anthem Award Honor in the Product and Innovation category for its 2024 rebrand. The award recognizes the transformative collaboration with DD.NYC that has redefined WillowWood's visual identity, emphasizing its mission to improve mobility, push the forefront of the prosthetic industry, and enhance the quality of life for individuals worldwide. The Anthem Awards is the largest and most comprehensive social impact award, recognizing work across five areas of impact including Awareness, Fundraising, Community Engagement, Product, Innovation & Service, and Team & Internal Initiatives, for seven causes: Diversity Equity & Inclusion, Education Art & Culture, Health, Human & Civil Rights, Humanitarian Action & Services, Responsible Technology, and Sustainability Climate & Environment. By amplifying the voices that spark global change, the Anthem Awards are defining a new benchmark for impactful work that inspires others to take action in their own communities. With over 2,300 submissions from 44 countries around the world, 10,000+ reviews from jurors, and over 33,000 supporters in the Anthem Community Voice, the 4th Annual Anthem Award Winners were announced on . WillowWood's rebrand stood out among this global competition, showcasing an unwavering commitment to empowering prosthetic users through advanced technology and compassionate care. "This recognition is a testament to the heart and soul of WillowWood's mission and DD.NYC's commitment to reimagining brands in a way that stays true to that heart and soul," said , CEO of WillowWood. "Our partnership with Digital Design NYC allowed us to craft a brand identity that not only honors our legacy but also propels us into the future. The rebrand reflects our promise to provide innovative prosthetic solutions that enhance mobility and transform lives." The creative process was a seamless collaboration between WillowWood and DD.NYC. Together, the teams developed a rebrand strategy that blends contemporary design elements with an innovation-centered focus. Key features include a revitalized logo, a cohesive color palette inspired by movement and vitality, and a redesigned website offering an intuitive user experience for clinicians and prosthetic users alike. "From the outset, we sought to encapsulate the essence of WillowWood's dedication to improving lives through innovation," said , Creative Director at DD.NYC. "The resulting rebrand is both striking and meaningful, capturing the spirit of mobility and resilience that defines WillowWood." The Gold Anthem Award underscores the significant impact of WillowWood's reimagined brand, resonating with both the prosthetics community and broader audiences. As a leader in the industry, WillowWood continues to champion inclusivity, innovation, and hope. To explore the award-winning rebrand and learn more about WillowWood's mission and products, visit . To learn more about the many industry-changing projects and services of DD.NYC, visit . Based in , WillowWood Global is an industry leading designer, manufacturer, and distributor of prosthetic products, including liners, feet, vacuum systems and components. Recognized for its products' superior innovation, quality, and patient outcomes, WillowWood's portfolio includes the Alpha family of liners, including the first myoelectric Alpha Control Liner, the META family of feet, the LimbLogic vacuum system, and now the XtremityTT socket system. For over 117 years, WillowWood's prosthetic products have helped individuals with limb loss find comfort and functionality, remain active and live life to the fullest. DD.NYC® is an award-winning -based creative agency specializing in branding, web design, packaging, and video storytelling. Since its founding in 2015, the agency has been recognized for its innovative approach and adaptability across industries, with a strong focus on the medical and healthcare sectors. Launched in 2021 by The Webby Awards, The Anthem Awards honors the purpose & mission-driven work of people, companies and organizations worldwide. By amplifying the voices that spark global change, we're defining a new benchmark for impactful work that inspires others to take action in their own communities. The Anthem Awards honors work across seven core causes: Diversity; Equity & Inclusion; Education; Art & Culture; Health; Human & Civil Rights; Humanitarian Action & Services; Responsible Technology; and Sustainability, Environment & Climate. This season's partners include Ms. Magazine, The Female Quotient, Sustainable Brands, NationSwell, and TheFutureParty. The Awards were founded in partnership with the Ad Council, Born This Way Foundation, Feeding America, Glaad, Mozilla, NAACP, NRDC, WWF, and XQ. Hailed as the "Internet's highest honor" by The , The Webby Awards is the leading international awards organization honoring excellence on the Internet, including Websites and Mobile Sites; Video; Advertising; Media & PR; Apps & Software; Social; Podcasts; Games and AI, Metaverse & Virtual. Established in 1996, The Webby Awards received nearly 13,000 entries from all 50 states and over 70 countries worldwide this year. The Webby Awards are presented by the International Academy of Digital Arts and Sciences (IADAS). Sponsors and Partners of The Webby Awards include WP Engine, LinkedIn, Meltwater, NAACP, KPMG, Wall Street Journal, Vox Media, Deadline, AdAge, TechCrunch, The Hollywood Reporter, The Hustle, Morning Brew, Passionfruit, Embedded, Link in Bio, Creator Economy NYC, Creator Spotlight, AIGA, Vote Save America, and The Publish Press. Media contact: View original content to download multimedia: SOURCE WillowWood Global
Washington Trust Announces Balance Sheet Repositioning
Matt Gaetz says he won’t return to Congress next year after withdrawing name for attorney generalMatt Gaetz says he won’t return to Congress next year after withdrawing name for attorney general
New Collaboration with Green Dot Enables Cash Deposits at Over 7,500 CVS Pharmacy Locations AUSTIN, Texas and SAN FRANCISCO , Dec. 20, 2024 /PRNewswire/ -- Varo Bank , the first all-digital nationally chartered bank in the U.S., today announced a collaboration with Green Dot Corporation (NYSE: GDOT) and CVS Health (NYSE: CVS) to enable deposits for no fee for millions of Varo Bank customers at over 7,500 participating CVS Pharmacy locations nationwide. 1 Utilizing Green Dot's embedded finance platform (Arc) and expansive money movement network, the "Green Dot Network," Varo customers can now deposit cash at participating CVS Pharmacy locations 2 with zero fees. For customers who deposit cash regularly, this means saving $120 or more per year. Traditional banks often charge fees unless customers maintain specified minimum balances in their accounts or meet monthly direct deposit requirements. In addition, unlike fintech companies that must work through partner banks to set their fee policies, Varo's charter enables the bank to offer preferential fees and products to its customers. "As an all-digital bank, Varo is creating low-cost financial solutions designed specifically for the needs of everyday Americans," said Colin Walsh , Chief Executive Officer at Varo Bank. "This Green Dot collaboration at participating CVS Pharmacy locations eliminates cash deposit fees, making basic banking more convenient and affordable." Varo customers have access to a suite of primary banking products that support their financial stability and wellness, including: "We are thrilled to work with Varo and CVS Pharmacy to make banking accessible to millions of American consumers," said Crystal Bryant-Minter , SVP, Money Movement at Green Dot. "With more than 20 years' experience delivering seamless banking and payment solutions to consumers and businesses, Arc by Green Dot powers some of the world's most trusted brands and thousands of other businesses at all stages of growth with seamless, secure and useful financial tools and experiences." About Varo Bank Varo Bank is a new kind of bank - the first nationally chartered consumer tech bank in the U.S., built from the ground up with a focus on the needs of Americans striving to get ahead. From credit building to savings to faster payments, Varo has a complete solution to help everyday Americans make progress in their financial lives. Varo combines the capabilities and nimbleness of a technology company with the security and oversight of a regulated financial institution, enabling agile product design that provides technology-first solutions such as Varo Believe, a secured card to help build credit; Varo Advance, to help stretch hard-earned dollars between paychecks; and a high-yield savings account, offering one of the nation's highest APYs. Varo has been named as one of the Inc. 5000 2023 fastest growth companies in the U.S., CNBC's 2023 list of the World's Top Fintech Companies, one of Forbes' World's Best Banks, and Fast Company's Most Innovative Companies. For more information on Varo Advance, Varo Believe, and other offerings such as Perks, visit www.varomoney.com , like Varo Bank on Facebook, and follow us on Instagram and Twitter @varobank. ©2024 Varo Bank, N.A. Member FDIC. About Arc by Green Dot Arc is the embedded finance platform of services featuring all of Green Dot's secure banking and money processing capabilities designed to fuel value, loyalty and growth for consumers and businesses. Arc by Green Dot powers some of the world's most trusted brands and thousands of other businesses with seamless, secure and useful financial tools and experiences. Integrated with Green Dot Bank 3 Arc provides partners with leading FDIC-insured banking products and tools, plus regulatory and compliance expertise, oversight and support. The Arc platform is cloud-based, modular and scalable by design – configurable to meet a wide range of business needs and goals, and flexible to adapt as our partners grow. Arc's end-to-end banking services are powered by enterprise-grade APIs and offer partners access to comprehensive customer support, fraud protection, the largest retail deposit and ATM network in the U.S., and much more. For more information, visit greendot.com/arc . Media Contact Audrey Jacobson , for Varo Bank: varobank@consortpartners.com 1 Fees for optional service may apply 2 Cash deposit is available at all stand-alone CVS locations (through Green Dot Network®) with a cashier in the U.S. except those located within hospitals, on military bases, or in Target. You can deposit between $20 - $500 per transaction. A fee may apply for depositing cash at other Green Dot Network® locations. 3 Green Dot Bank also operates under the following registered trade names: GO2bank, GoBank and Bonneville Bank . All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Green Dot Corporation NMLS #914924; Green Dot Bank NMLS #908739. View original content to download multimedia: https://www.prnewswire.com/news-releases/varo-bank-introduces-zero-fee-cash-deposits-at-participating-cvs-locations-302337565.html SOURCE Varo BankNew Collaboration with Green Dot Enables Cash Deposits at Over 7,500 CVS Pharmacy Locations AUSTIN, Texas and SAN FRANCISCO , Dec. 20, 2024 /PRNewswire/ -- Varo Bank , the first all-digital nationally chartered bank in the U.S., today announced a collaboration with Green Dot Corporation (NYSE: GDOT) and CVS Health (NYSE: CVS) to enable deposits for no fee for millions of Varo Bank customers at over 7,500 participating CVS Pharmacy locations nationwide. 1 Utilizing Green Dot's embedded finance platform (Arc) and expansive money movement network, the "Green Dot Network," Varo customers can now deposit cash at participating CVS Pharmacy locations 2 with zero fees. For customers who deposit cash regularly, this means saving $120 or more per year. Traditional banks often charge fees unless customers maintain specified minimum balances in their accounts or meet monthly direct deposit requirements. In addition, unlike fintech companies that must work through partner banks to set their fee policies, Varo's charter enables the bank to offer preferential fees and products to its customers. "As an all-digital bank, Varo is creating low-cost financial solutions designed specifically for the needs of everyday Americans," said Colin Walsh , Chief Executive Officer at Varo Bank. "This Green Dot collaboration at participating CVS Pharmacy locations eliminates cash deposit fees, making basic banking more convenient and affordable." Varo customers have access to a suite of primary banking products that support their financial stability and wellness, including: "We are thrilled to work with Varo and CVS Pharmacy to make banking accessible to millions of American consumers," said Crystal Bryant-Minter , SVP, Money Movement at Green Dot. "With more than 20 years' experience delivering seamless banking and payment solutions to consumers and businesses, Arc by Green Dot powers some of the world's most trusted brands and thousands of other businesses at all stages of growth with seamless, secure and useful financial tools and experiences." About Varo Bank Varo Bank is a new kind of bank - the first nationally chartered consumer tech bank in the U.S., built from the ground up with a focus on the needs of Americans striving to get ahead. From credit building to savings to faster payments, Varo has a complete solution to help everyday Americans make progress in their financial lives. Varo combines the capabilities and nimbleness of a technology company with the security and oversight of a regulated financial institution, enabling agile product design that provides technology-first solutions such as Varo Believe, a secured card to help build credit; Varo Advance, to help stretch hard-earned dollars between paychecks; and a high-yield savings account, offering one of the nation's highest APYs. Varo has been named as one of the Inc. 5000 2023 fastest growth companies in the U.S., CNBC's 2023 list of the World's Top Fintech Companies, one of Forbes' World's Best Banks, and Fast Company's Most Innovative Companies. For more information on Varo Advance, Varo Believe, and other offerings such as Perks, visit www.varomoney.com , like Varo Bank on Facebook, and follow us on Instagram and Twitter @varobank. ©2024 Varo Bank, N.A. Member FDIC. About Arc by Green Dot Arc is the embedded finance platform of services featuring all of Green Dot's secure banking and money processing capabilities designed to fuel value, loyalty and growth for consumers and businesses. Arc by Green Dot powers some of the world's most trusted brands and thousands of other businesses with seamless, secure and useful financial tools and experiences. Integrated with Green Dot Bank 3 Arc provides partners with leading FDIC-insured banking products and tools, plus regulatory and compliance expertise, oversight and support. The Arc platform is cloud-based, modular and scalable by design – configurable to meet a wide range of business needs and goals, and flexible to adapt as our partners grow. Arc's end-to-end banking services are powered by enterprise-grade APIs and offer partners access to comprehensive customer support, fraud protection, the largest retail deposit and ATM network in the U.S., and much more. For more information, visit greendot.com/arc . Media Contact Audrey Jacobson , for Varo Bank: varobank@consortpartners.com 1 Fees for optional service may apply 2 Cash deposit is available at all stand-alone CVS locations (through Green Dot Network®) with a cashier in the U.S. except those located within hospitals, on military bases, or in Target. You can deposit between $20 - $500 per transaction. A fee may apply for depositing cash at other Green Dot Network® locations. 3 Green Dot Bank also operates under the following registered trade names: GO2bank, GoBank and Bonneville Bank . All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Green Dot Corporation NMLS #914924; Green Dot Bank NMLS #908739. View original content to download multimedia: https://www.prnewswire.com/news-releases/varo-bank-introduces-zero-fee-cash-deposits-at-participating-cvs-locations-302337565.html SOURCE Varo Bank
New Delhi: The issue of lateral entry to fill key posts in government departments, which triggered a political row earlier this year over lack of reservation for these positions, will be examined by a parliamentary panel. According to details put out by the Lok Sabha secretariat, lateral entry in civil services is among the subjects selected by the Department-related Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice for examination in 2024-25. In August this year, the Union Public Service Commission (UPSC) had advertised 45 posts — 10 of joint secretaries and 35 of directors and deputy secretaries — to be filled through the lateral entry mode on contract basis. The advertisement triggered protests from the Opposition as well as NDA allies like the Lok Janshakti Party (LJP) and Janata Dal (United). Many leaders, including Congress president Mallikarjun Kharge, Leader of Opposition Rahul Gandhi, Bahujan Samaj Party chief Mayawati, and Samajwadi Party’s Akhilesh Yadav slammed the government’s policy for not having reservations for Scheduled Caste (SC), Scheduled Tribe (ST), and Other Backward Classes (OBC) candidates. The government then asked the UPSC to cancel its advertisement. Bureaucrats are usually recruited through the civil services exam process but lateral entrants, typically experts in a particular field, are inducted directly for a limited term. No quota is currently applicable to these appointments. So far, 63 appointments have been made through lateral entry out of which 35 appointments were from the private sector. At present, 57 officers are in positions in ministries/departments, according to the latest data. The lateral recruitment in the central government, has been undertaken since 2018 to appoint persons for specific assignments, keeping in view their specialised knowledge and expertise in the domain area.None
By BEN FINLEY, The Associated Press The military’s tradition of tracking Santa Claus on his gravity-defying sweep across the globe will carry on this Christmas Eve, even if the U.S. government shuts down , officials said Friday. Each year, at least 100,000 kids call into the North American Aerospace Defense Command to inquire about Santa’s location . Millions more follow online — in nine languages — as St. Nick swoops along the earth’s meridians. “We fully expect for Santa to take flight on Dec. 24 and NORAD will track him,” the U.S.-Canadian agency said in a statement. On any other night, NORAD is scanning the heavens for potential threats, such as last year’s Chinese spy balloon. But on Christmas Eve, volunteers in Colorado Springs, Colorado, are fielding questions like, “When is Santa coming to my house?” and, “Am I on the naughty or nice list?” The endeavor is supported by local and corporate sponsors, who also help shield the tradition from Washington dysfunction. Bob Sommers, 63, a civilian contractor and NORAD volunteer, told The Associated Press that there are “screams and giggles and laughter” when families call in, usually on speakerphone. Sommers often says on the call that everyone must be asleep before Santa arrives, prompting parents to say, “Do you hear what he said? We got to go to bed early.” NORAD’s annual tracking of Santa has endured since the Cold War, predating ugly sweater parties and Mariah Carey classics. Here’s how it began and why the phones keep ringing. Air Force Master Sgt. Brian Burgess, standing, and Maj. Bonnie Bosworth of the New York Air National Guard’s 224th Air Defense Squadron train for Santa-tracking operations on Dec. 16, 2022, at the Eastern Air Defense Sector headquarters in Rome, New York. (Master Sgt. Kim Dagata, 224th Air Defense Group, New York National Guard, file) Photo by Master Sgt. Kim Dagata, 224th Air Defense Group, New York National Guard The origin story is Hollywood-esque It started with a child’s accidental phone call in 1955 . The Colorado Springs newspaper printed a Sears advertisement that encouraged children to call Santa, listing a phone number. A boy called. But he reached the Continental Air Defense Command, now NORAD, a joint U.S. and Canadian effort to spot potential enemy attacks. Tensions were growing with the Soviet Union, along with anxieties about nuclear war. Air Force Col. Harry W. Shoup picked up an emergency-only “red phone” and was greeted by a tiny voice that began to recite a Christmas wish list. “He went on a little bit, and he takes a breath, then says, ‘Hey, you’re not Santa,’” Shoup told The Associated Press in 1999. Realizing an explanation would be lost on the youngster, Shoup summoned a deep, jolly voice and replied, “Ho, ho, ho! Yes, I am Santa Claus. Have you been a good boy?” Shoup said he learned from the boy’s mother that Sears mistakenly printed the top-secret number. He hung up, but the phone soon rang again with a young girl reciting her Christmas list. Fifty calls a day followed, he said. In the pre-digital age, the agency used a 60-by-80-foot plexiglass map of North America to track unidentified objects. A staff member jokingly drew Santa and his sleigh over the North Pole. The tradition was born. “Note to the kiddies,” began an AP story from Colorado Springs on Dec. 23, 1955. “Santa Claus Friday was assured safe passage into the United States by the Continental Air Defense Command.” In a likely reference to the Soviets, the article noted that Santa was guarded against possible attack from “those who do not believe in Christmas.” Is the origin story humbug? Some grinchy journalists have nitpicked Shoup’s story, questioning whether a misprint or a misdial prompted the boy’s call. In 2014, tech news site Gizmodo cited an International News Service story from Dec. 1, 1955, about a child’s call to Shoup. Published in the Pasadena Independent, the article said the child reversed two digits in the Sears number. “When a childish voice asked COC commander Col. Harry Shoup, if there was a Santa Claus at the North Pole, he answered much more roughly than he should — considering the season: ‘There may be a guy called Santa Claus at the North Pole, but he’s not the one I worry about coming from that direction,’” Shoup said in the brief piece. In 2015, The Atlantic magazine doubted the flood of calls to the secret line, while noting that Shoup had a flair for public relations. Phone calls aside, Shoup was indeed media savvy. In 1986, he told the Scripps Howard News Service that he recognized an opportunity when a staff member drew Santa on the glass map in 1955. A lieutenant colonel promised to have it erased. But Shoup said, “You leave it right there,” and summoned public affairs. Shoup wanted to boost morale for the troops and public alike. “Why, it made the military look good — like we’re not all a bunch of snobs who don’t care about Santa Claus,” he said. Shoup died in 2009. His children told the StoryCorps podcast in 2014 that it was a misprinted Sears ad that prompted the phone calls. “And later in life he got letters from all over the world,” said Terri Van Keuren, a daughter. “People saying ‘Thank you, Colonel, for having, you know, this sense of humor.’” A rare addition to Santa’s story NORAD’s tradition is one of the few modern additions to the centuries-old Santa story that have endured, according to Gerry Bowler, a Canadian historian who spoke to the AP in 2010. Ad campaigns or movies try to “kidnap” Santa for commercial purposes, said Bowler, who wrote “Santa Claus: A Biography.” NORAD, by contrast, takes an essential element of Santa’s story and views it through a technological lens. In a recent interview with the AP, Air Force Lt. Gen. Case Cunningham explained that NORAD radars in Alaska and Canada — known as the northern warning system — are the first to detect Santa. He leaves the North Pole and typically heads for the international dateline in the Pacific Ocean. From there he moves west, following the night. “That’s when the satellite systems we use to track and identify targets of interest every single day start to kick in,” Cunningham said. “A probably little-known fact is that Rudolph’s nose that glows red emanates a lot of heat. And so those satellites track (Santa) through that heat source.” NORAD has an app and website, www.noradsanta.org , that will track Santa on Christmas Eve from 4 a.m. to midnight, mountain standard time. People can call 1-877-HI-NORAD to ask live operators about Santa’s location from 6 a.m. to midnight, mountain time. Christmas stories 2024 holiday travel expected to break records, again Trans-Siberian Orchestra in Pa.: Where to buy last-minute to tickets to four shows Residents of this Philadelphia block create neighborhood ‘magic’ every December How to watch ‘Barry Manilow’s A Very Barry Christmas’ with a FREE live stream
Two-time All-Star Max Fried and the New York Yankees are in agreement on an eight-year, $218 million contract, sources told ESPN, the largest guarantee ever for a left-handed pitcher. The deal, which is pending a physical, is the 12th contract of at least $100 million the Yankees have given out in franchise history, breaking a tie with the Los Angeles Dodgers for the most by any team. Fried, 30, who blossomed into one of the best pitchers in the National League over seven years with the Braves , is a two-time All-Star with a 2.81 ERA over the past five seasons in Atlanta -- tops in the majors, just ahead of Corbin Burnes (2.88) among MLB starting pitchers over that span. While he does not overwhelm hitters with his raw stuff, his artistry on the mound and his ability to go deep into games were attractive to teams in search of an Opening Day-type starter. Editor's Picks Latest MLB winter meetings updates and rumors from Dallas: Yankees land Max Fried for $218 million 22m ESPN Yanks 'proud' of Soto offer; don't regret trade 21h Jorge Castillo MLB free agency grades: Dodgers add Conforto, bring back Treinen 10h Bradford Doolittle and David Schoenfield The Yankees made the move for Fried -- who was also pursued by the Boston Red Sox , Toronto Blue Jays and Texas Rangers -- two days after outfielder Juan Soto left for the rival Mets on the largest contract in professional sports history . Fried joins one of the deepest rotations in baseball, which already includes Gerrit Cole , Carlos Rodon , Luis Gil , Clarke Schmidt , Nestor Cortes and Marcus Stroman . His $218 million deal exceeds that of David Price , who signed with the Red Sox for $217 million in 2015. Price and the Dodgers' Clayton Kershaw ($215 million) are the only other left-handed pitchers to receive $200 million contracts. While Fried's career includes up-and-down postseason performances, it's impossible to forget his six shutout innings in Atlanta's World Series-clinching Game 6 in 2021. He arrived in Atlanta as the headliner in a trade for Justin Upton after undergoing Tommy John surgery following two disappointing seasons in San Diego's farm system. The No. 7 pick in the 2012 draft, Fried projected as a classic spin-heavy left-hander whose command would be his biggest strength. Showed Him The Money Max Fried's $218 million guarantee is the fifth-largest contract all-time for a pitcher and largest for a left-hander. That proved prophetic. Fried's best pitches are his curveball and his slider, and while models regard his fastball as below average, his command of it -- and his ability to mix pitches -- has brought him continued success. Over the past five years, Baseball Reference has him third among all pitchers in WAR and FanGraphs 11th. The biggest question regarding Fried is whether he can evolve into the rarest sort of starter: productive and prolific. His career-high innings total, 1851⁄3, came in 2022. In 2024, with Braves co-ace Spencer Strider out after Tommy John surgery, Fried posted a 3.25 ERA in 1741⁄3 innings, struck out 166, walked 57, allowed only 13 home runs and led MLB with a pair of complete games. His year-by-year ERAs over the four prior seasons: 2.25, 3.04, 2.48 and 2.55. ESPN Research contributed to this report.Even More Drones in the Sky: Amazon Launches Aerial Delivery Service
Vail Resorts Reports Fiscal 2025 First Quarter and Season Pass Sales Results, and Announces 2025 Capital PlanSouth Korean President Yoon Suk Yeol on Wednesday said he would lift martial law just hours after he imposed it, in a brief and confusing episode in which he blasted the opposition as "anti-state forces" threatening the country's democracy. The unexpected move from Yoon -- the first time martial law had been declared in South Korea in more than four decades -- alarmed the United States and the country's other allies. What do we know about the imposition, its lifting and what might come next? In a dramatic, late-night emergency television address to the nation, Yoon announced that he was imposing martial law, as he accused the opposition of paralysing the government with "anti-state activities". A six-point decree from the new martial law commander, army chief General Park An-su swiftly followed, banning political activities and parties, "false propaganda", strikes and "gatherings that incite social unrest". The order also brought all media outlets under the authority of martial law and directed all medical staff, including striking doctors, to return to work within 48 hours. Security forces sealed the National Assembly, helicopters landed on the roof and troops entered the building for a short time, seemingly in a bid to prevent lawmakers from getting inside. But 190 lawmakers managed to enter and voted unanimously to reject Yoon's declaration and call for martial law to be lifted. Outside, hundreds of protesters gathered, many raising chants calling for Yoon to be arrested. Following the lawmakers' vote, Yoon backed down. His cabinet additionally approved the motion to lift the order, Yonhap news agency reported. "Just a moment ago, there was a demand from the National Assembly to lift the state of emergency, and we have withdrawn the military that was deployed for martial law operations," Yoon said in a televised address around 4:30 am (1930 GMT Tuesday). Under South Korea's constitution, the parliamentary vote to lift martial law has to be respected. Yoon said he was acting to safeguard his country's liberal democracy from "anti-state elements" and "threats posed by North Korea" -- but gave little detail. While unexpected, the announcement came in the context of a festering budget row between Yoon and the opposition Democratic Party. The opposition has slashed around 4.1 trillion won ($2.8 billion) from Yoon's proposed 677 trillion won budget for next year, prompting the president to complain that "all key budgets essential to the nation's core functions" were being cut. "What is clear is that Yoon has been a deeply unpopular, ineffectual leader and he is having a hard time getting any kind of public support for anything he's trying to do," said Alan Yu, a former US diplomat in Asia now at the Center for American Progress. "The use of martial law feels almost like a desperation move to try to break out, both in a political and policy sense, but it is really poorly played on both fronts." Domestically, pressure has only grown further on Yoon after his late-night bombshell. South Korea's main opposition party has demanded that Yoon step down, accusing him of "insurrection". The country's main labour union group has also called an "indefinite general strike" until he resigns over the "irrational and anti-democratic measure". Yoon's own People Power Party described his attempt at imposing martial law as "tragic" and demanded that those involved be held accountable. South Korea is a key Western ally in Asia, seen as an important democratic bulwark in a region dominated by authoritarian regimes, and the drama is being watched with concern. Washington said it was "relieved President Yoon has reversed course" on his martial law order. Earlier, Britain and Germany both said they were closely following developments. China, a key ally of nuclear-armed North Korea, urged its citizens to exercise caution, while Russia -- itself increasingly close to Pyongyang -- called the situation "alarming". burs-pdw-bfm-hmn/cwl
Key Trends in the Digital Brand Engagement Market with Insights from Guangzhou Ruoyuchen Technology, Americaneagle, Buy Quickly, Hangzhou Winchance Tech, Unique Logic, Qingmu Digital Technology, Hangzhou UCO Cosmetics, Shanghai Kaytune IndustrialSwiss National Bank lessened its position in Cadence Bank ( NYSE:CADE – Free Report ) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 356,753 shares of the company’s stock after selling 3,400 shares during the period. Swiss National Bank’s holdings in Cadence Bank were worth $11,363,000 at the end of the most recent quarter. Several other institutional investors also recently modified their holdings of CADE. V Square Quantitative Management LLC acquired a new stake in Cadence Bank in the 3rd quarter valued at about $25,000. GAMMA Investing LLC lifted its position in shares of Cadence Bank by 77.0% in the second quarter. GAMMA Investing LLC now owns 1,002 shares of the company’s stock valued at $28,000 after buying an additional 436 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Cadence Bank during the 2nd quarter worth approximately $138,000. KBC Group NV boosted its stake in shares of Cadence Bank by 11.5% during the 3rd quarter. KBC Group NV now owns 5,036 shares of the company’s stock worth $160,000 after acquiring an additional 519 shares during the period. Finally, Americana Partners LLC acquired a new position in shares of Cadence Bank during the 3rd quarter worth approximately $201,000. 84.61% of the stock is currently owned by institutional investors and hedge funds. Cadence Bank Trading Up 2.4 % Shares of CADE stock opened at $38.88 on Friday. The stock has a market cap of $7.08 billion, a P/E ratio of 11.17 and a beta of 0.95. Cadence Bank has a 1 year low of $24.15 and a 1 year high of $39.79. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $33.84 and a 200 day simple moving average of $31.18. Cadence Bank Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, December 13th. Cadence Bank’s dividend payout ratio is currently 28.74%. Analyst Ratings Changes A number of equities analysts have commented on the stock. DA Davidson lifted their price objective on shares of Cadence Bank from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays lifted their target price on shares of Cadence Bank from $35.00 to $37.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 23rd. Morgan Stanley upgraded shares of Cadence Bank from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $36.00 to $39.00 in a research note on Monday, September 30th. Royal Bank of Canada raised their price objective on shares of Cadence Bank from $35.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial upped their target price on Cadence Bank from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cadence Bank currently has an average rating of “Moderate Buy” and an average price target of $35.29. View Our Latest Stock Report on CADE Cadence Bank Profile ( Free Report ) Cadence Bank provides commercial banking and financial services. Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services. See Also Want to see what other hedge funds are holding CADE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cadence Bank ( NYSE:CADE – Free Report ). Receive News & Ratings for Cadence Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cadence Bank and related companies with MarketBeat.com's FREE daily email newsletter .