Oracle’s Q1 Profit, Q2 Forecast Beat View (ORCL)

Share |

Enterprise software giant Oracle Corporation ( ORCL ) on Friday posted a 20% jump in fiscal first quarter profit, beating analyst estimates and sending its shares higher in premarket trading.

The Redwood City, CA-based company reported fiscal first quarter net income of $1.35 billion, or 27 cents per share, compared with $1.12 billion, or 22 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 42 cents per share.

Revenue surged 50% from last year to $7.6 billion on a non-GAAP basis.

On average, Wall Street analysts expected a smaller adjusted profit of 37 cents per share, on lower revenue of $7.27 billion.

Looking ahead, the company forecast second quarter non-GAAP earnings per share of 45 to 47 cents per share, which could meet or exceed analysts' expectations of 45 cents.

Oracle shares rose 94 cents, or +3.7%, in premarket trading Friday.

The Bottom Line
We had removed shares of ORCL from our recommended list back on May 4, when the stock was trading at $26.01. Shares of ORCL have a .79% dividend yield, based on last night's closing stock price of $25.36. The stock has technical support in the $22-$23 price area. If the shares can firm up, we see overhead resistance around the $27-$29 price levels. We would remain on the sidelines for now.

Oracle Corporation ( ORCL ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by

This article appears in: Investing , Stocks

Referenced Stocks: ORCL

More from

Related Videos



Most Active by Volume

  • $18.16 ▲ 1.57%
  • $31.24 ▼ 14.50%
  • $15.21 ▲ 3.61%
  • $26 ▼ 0.65%
  • $96.99 ▲ 1.78%
  • $35.76 ▲ 1.16%
  • $19.87 ▲ 0.61%
  • $46.29 ▲ 2.10%
As of 7/29/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by