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Strength in Cloud Offerings to Aid Oracle (ORCL) Q3 Earnings
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Oracle (ORCL - Free Report) is scheduled to report third-quarter fiscal 2021 results on Mar 10.
The company’s fiscal third-quarter results are anticipated to have benefited from robust demand for its Cloud Infrastructure services, driven by strength in capabilities comprising enhanced security and management, higher-performance and cost effectiveness.
Moreover, increased availability of Oracle Cloud in 29 regions globally is expected to have strengthened its competitive position in the cloud computing market, which is dominated by Amazon’s (AMZN - Free Report) Amazon Web Services.
Click here to know how the company’s overall fiscal third-quarter performance is expected to be.
Momentum in Cloud Solutions Bode Well
Strong uptake of cloud-based solutions, comprising NetSuite ERP, Fusion ERP and Fusion HCM are likely to have aided revenue growth in the fiscal third quarter.
In fact, Oracle, which currently carries a Zacks Rank #3 (Hold), disclosed that Bed Bath & Beyond Inc. is leveraging its ERP (or Enterprise Resource Planning) solutions to boost enterprise efficiency and customer experience. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Further, Oracle Cloud Human Capital Management (or HCM) Applications are being utilized by Northwell Health, Indiana University Health, CarolinaEast Health System, and Atrium Health to enhance human resource (HR) processes.
Besides, solid adoption of Exadata and data cloud solutions, and Autonomous Database offerings, coupled with robust demand for the Oracle Dedicated Region Cloud@Customer supported by ML is likely to have driven the top line.
Markedly, companies like MercadoLibre (MELI - Free Report) , Xactly, 8x8 and Zoom Video have selected Oracle Cloud Infrastructure services to address business needs, which is a testament to the strength of its cloud offerings.
The Zacks Consensus Estimate for Cloud services and license support revenues is pegged at $7.148 billion, indicating an improvement of 3.1% on a year-over-year basis.
However, increasing expenses on product development, on account of product roll outs and enhancements amid stiff competition in the cloud computing market, might have weighed on the fiscal third-quarter performance.
Notably, the consensus for Cloud license and on-premise license is pegged at $1.206 billion, indicating a decline of 2% on a year-over-year basis.
Sluggish IT Spend Remains a Woe
Decline in IT spending and coronavirus pandemic-induced broader macroeconomic weakness across small and medium sized businesses are likely to have affected the fiscal third-quarter performance.
Markedly, the Zacks Consensus Estimate for Hardware revenues in the fiscal third quarter is pegged at $835 million, suggesting a decrease of 2.6% on a year-over-year basis. Meanwhile, the consensus mark for Services revenues stands at $742 million, indicating a slump of 4.6% on a year-over-year basis.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Strength in Cloud Offerings to Aid Oracle (ORCL) Q3 Earnings
Oracle (ORCL - Free Report) is scheduled to report third-quarter fiscal 2021 results on Mar 10.
The company’s fiscal third-quarter results are anticipated to have benefited from robust demand for its Cloud Infrastructure services, driven by strength in capabilities comprising enhanced security and management, higher-performance and cost effectiveness.
Moreover, increased availability of Oracle Cloud in 29 regions globally is expected to have strengthened its competitive position in the cloud computing market, which is dominated by Amazon’s (AMZN - Free Report) Amazon Web Services.
Click here to know how the company’s overall fiscal third-quarter performance is expected to be.
Momentum in Cloud Solutions Bode Well
Strong uptake of cloud-based solutions, comprising NetSuite ERP, Fusion ERP and Fusion HCM are likely to have aided revenue growth in the fiscal third quarter.
In fact, Oracle, which currently carries a Zacks Rank #3 (Hold), disclosed that Bed Bath & Beyond Inc. is leveraging its ERP (or Enterprise Resource Planning) solutions to boost enterprise efficiency and customer experience. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Oracle Corporation Revenue (Quarterly)
Oracle Corporation revenue-quarterly | Oracle Corporation Quote
Further, Oracle Cloud Human Capital Management (or HCM) Applications are being utilized by Northwell Health, Indiana University Health, CarolinaEast Health System, and Atrium Health to enhance human resource (HR) processes.
Besides, solid adoption of Exadata and data cloud solutions, and Autonomous Database offerings, coupled with robust demand for the Oracle Dedicated Region Cloud@Customer supported by ML is likely to have driven the top line.
Markedly, companies like MercadoLibre (MELI - Free Report) , Xactly, 8x8 and Zoom Video have selected Oracle Cloud Infrastructure services to address business needs, which is a testament to the strength of its cloud offerings.
The Zacks Consensus Estimate for Cloud services and license support revenues is pegged at $7.148 billion, indicating an improvement of 3.1% on a year-over-year basis.
However, increasing expenses on product development, on account of product roll outs and enhancements amid stiff competition in the cloud computing market, might have weighed on the fiscal third-quarter performance.
Notably, the consensus for Cloud license and on-premise license is pegged at $1.206 billion, indicating a decline of 2% on a year-over-year basis.
Sluggish IT Spend Remains a Woe
Decline in IT spending and coronavirus pandemic-induced broader macroeconomic weakness across small and medium sized businesses are likely to have affected the fiscal third-quarter performance.
Markedly, the Zacks Consensus Estimate for Hardware revenues in the fiscal third quarter is pegged at $835 million, suggesting a decrease of 2.6% on a year-over-year basis. Meanwhile, the consensus mark for Services revenues stands at $742 million, indicating a slump of 4.6% on a year-over-year basis.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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