Enterprise software giant Oracle Corporation (
) late Thursday said its fiscal fourth quarter profit rose 25% from
last year, beating analyst estimates and sending its shares
The Redwood City, CA-based company reported fourth quarter net
income of $2.4 billion, or 46 cents per share, compared with $1.9
billion, or 38 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was 60 cents per share.
Revenue surged 39% from last year, to $9.5 billion.
On average, Wall Street analysts expected a smaller adjusted
profit of 54 cents per share, on matching revenue of $9.5
For the current fiscal first quarter, the company predicted
adjusted earnings of 35 to 37 cents per share, which straddles the
average analyst estimate for 36 cents.
Oracle shares rose 83 cents, or +3.7%, in premarket trading
The Bottom Line
We recently removed shares of ORCL from our recommended list on May
4, when the stock was trading at $26.01. The company has a .90%
dividend yield, based on last night's closing stock price of
$22.22. The stock has technical support in the $20-$21 price area.
If the shares can firm up, we see overhead resistance around the
$25-$26 price levels. We would remain on the sidelines for now.
Oracle Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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