Oracle Chairman and Technology Chief Larry Ellison speaks at Oracle OpenWorld on September 16, 2019 in San Francisco.
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Oracle Shares of the software provider rose 5% in after-hours trading on Monday after the software provider reported fiscal fourth-quarter results that topped Wall Street expectations.
Here’s how the company does it:
- income: Adjusted earnings per share came in at $1.67, compared with analysts’ expectations of $1.58 per share, according to Refinitiv data.
- income: Analysts had expected $13.84 billion, compared with analysts’ expectations for $13.73 billion, according to Refinitiv data.
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For the quarter ended May 31, Oracle’s revenue rose 17% year-over-year. statement. Net income came in at $3.32 billion, or $1.19 a share, compared with $3.19 billion, or $1.16 a share, a year earlier.
The company’s main revenue stream, cloud services and licensing support, rose 23% to $9.37 billion. But revenue from cloud licensing and on-premises fell 15 percent to $2.15 billion.
Revenue from cloud infrastructure totaled $1.4 billion, up 76 percent, up from a 55 percent increase in the previous quarter.This part of Oracle is expanding faster than competitors such as Microsoft and Google But still much smaller.
This quarter, Oracle explain More of its cloud services have been approved for use by U.S. defense and intelligence agencies.
Excluding after-hours moves, Oracle shares have risen nearly 43% so far this year, while the S&P 500 has risen about 13% over the same period. The stock rose 6% in regular trading, marking its best day in a year, after Wolfe Research analysts upgraded the stock from hold to equivalent buy, citing improving financials and the company’s position in artificial intelligence.
Executives will discuss the results and issue guidance on a conference call with analysts beginning at 5 p.m. ET.
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