Oracle Chairman and Technology Officer Larry Ellison speaks at the Oracle OpenWorld conference in San Francisco on September 16, 2019.
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Oracle Shares rose as much as 5% in after-hours trading Monday after the software vendor posted fourth-quarter earnings that beat Wall Street expectations.
The company’s efforts include:
- Earnings: Refinitiv said the stock was adjusted to $1.67 per share, while analysts expected $1.58 per share.
- Earnings: $13.84 billion, according to Refinitiv, compared with analyst estimates of $13.73 billion.
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According to one study, Oracle’s revenue increased 17% year-over-year in the quarter ended May 31. statement. Net income reached $3.32 billion, or $1.19 per share, compared with $3.19 billion, or $1.16 per share, in the year-ago quarter.
Cloud services and license support, the company’s biggest revenue streams, rose 23% to $9.37 billion. However, revenue from cloud licenses and on-premises fell 15% to $2.15 billion.
Cloud infrastructure revenue totaled $1.4 billion, up 76%, accelerating from 55% growth last quarter. That part of Oracle is expanding faster than its competitors. microsoft and Google But still much smaller.
During the quarter, Oracle Said Many of the company’s cloud services were approved for use by US defense and intelligence agencies.
Excluding after-hours activity, Oracle stock is up about 43% year-to-date, while the S&P 500 is up about 13% over the same period. Shares are up 6% in regular trading and up over the past year after Wolf Research analysts upgraded the stock from hold to buy equivalents based on improving financials and the company’s growing position in artificial intelligence. It was the best day in
Executives will discuss results and provide guidance on a conference call with analysts starting at 5 p.m. ET.
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