In a surprise move, enterprise software giant Oracle Corporation
) late Monday reported better-than-expected fiscal fourth quarter
The Redwood City, CA-based company was slated to deliver its
report on Thursday, June 21, but for unknown reasons decided to
release the totals a full three days early. A company spokesman
said the move was made "in an effort to permit us to speak more
Oracle posted fiscal fourth quarter net income of $3.5 billion,
or 69 cents per share, compared with $3.2 billion, or 62 cents per
share, in the year-ago period. Excluding one-time items, adjusted
profit was 82 cents per share.
Revenue just 1% from last year to $10.9 billion.
On average, Wall Street analysts expected much lower profits of
78 cents per share, on nearly matching revenue of $10.89
Oracle shares rose $1.31, or +4.8%, in premarket trading
The Bottom Line
Shares of Oracle (
) have a .88% dividend yield, based on last night's closing stock
price of $27.12. The stock has technical support in the $81-$85
price area. If the shares can firm up, we see overhead resistance
around the $91-$93 price levels.
Oracle Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.1 out of 5 stars.
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, as well as a detailed explanation of
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