Markets

Oracle Earnings: ORCL Stock Gains on Q4 EPS, Sales Beats

Oracle (NYSE:) unveiled its latest quarterly earnings results late today, amassing a profit that was stronger than what analysts called for, while the brand’s revenue was also ahead of the mark, playing a role in lifting ORCL stock more than 2% after hours Wednesday.

The Redwood City, Calif.-based software business said that for its fourth quarter of its fiscal 2019, it brought in an adjusted profit of $1.16 per share when excluding certain items. This figure was roughly 9 cents per share ahead of the Wall Street consensus estimate, which came in at adjusted earnings of $1.07 per share, according to the average guidance of analysts, per Refinitiv.

Oracle added that its sales increased 1% when compared to the year-ago quarter, reaching $11.14 billion and coming in ahead of the $10.93 billion that analysts predicted, per Refinitiv. The company’s Cloud Services and License Support business, which is its largest segment, tallied in $6.80 billion in revenue, better than the $6.76 billion consensus outlook, per analysts polled by FactSet.

Its Cloud License and On-Premise License segment raked in $2.52 billion in revenue, ahead of the $2.32 billion FactSet forecast. Oracle said its quarterly success could be attributed to growth in cloud applications such as NetSuite and Fusion–the business also reduced its workforce and inked a partnership with competitor MIcrosoft.

ORCL stock is gaining about 2.7% after the bell today following the company’s quarterly earnings results. Shares had been down about 0.4% during regular trading hours on Wednesday.

The post appeared first on InvestorPlace.

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

In This Story

ORCL

Latest Markets Videos