Shares of Oracle Corp (
) are rallying in the pre-market after the company reported
second-quarter earnings of 51 cents per share, 5 cents better than
the analyst estimate of 46 cents per share.
Oracle reported net income in the quarter ended Nov. 30 rose to
$1.9 billion, or 37 cents a share, from the year-ago quarter of
$1.45 billion, or 29 cents a share. Revenue climbed 47% to $8.6
billion from $5.9 billion. issuing guidance for the third quarter
that was also above analyst expectations. Looking ahead the company
expects profit excluding certain expenses to be in the 48 cents to
50 cents a share range, above the 47 cents that analysts
Analysts believe news from Oracle shows a positive overall I.T.
spending environment, with most seeing the trend continue into
Shares of Oracle Corp are trading up 4% in the pre-market.
The Bottom Line
Shares of Oracle Corp. (
) have a .66% dividend yield, based on last night's closing stock
price of $30.27. The stock has technical support in the $27 price
area. If the shares can continue to build momentum, we see overhead
resistance around the $35 price levels.
Oracle Corp. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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