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Oracle Corporation (ORCL - Free Report) just released its latest quarterly financial results, posting non-GAAP earnings of $0.83 per share and revenues of $9.8 billion.
Currently, ORCL is a Zacks Rank #3 (Hold), but that could change based on today’s results. The stock is currently down 2% to $50.92 per share in after-hours trading shortly after its earnings report was released.
Oracle:
Beat earnings estimates. The company posted adjusted earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.72. Quarterly GAAP earnings came in at -$0.98 per share due to one-charges related to the 2017 Tax Cuts and Jobs Act.
Matched revenue estimates. The company saw revenue figures of $9.77 billion, basically in line with our consensus estimate of $9.79 billion.
Total revenues were up 6%. Cloud and On-Premise Software Revenues climbed 8%. Cloud Software as a Service revenues soared 33%. Total Cloud Revenues gained 32%.
“During FY17, I forecast double-digit non-GAAP earnings per share growth for FY18,” said Oracle CEO Safra Catz. “With non-GAAP earnings per share up 20% in Q3, our year-to-date earnings per share growth is now up to 16%. At this point, I feel quite confident that we will comfortably deliver on my original forecast of double-digit non-GAAP earnings per share growth for FY18.”
Here’s a graph that looks at Oracle’s recent earnings performance:
Oracle Corporation Price, Consensus and EPS Surprise
Oracle Corporation is a global provider of enterprise cloud computing and is empowering businesses of all sizes on their journey of digital transformation. Oracle's application suites, platforms, and infrastructure leverage both the latest technologies and emerging ones, including artificial intelligence (AI), machine learning, blockchain, and Internet of Things (IoT).
Check back later for our full analysis on ORCL’s earnings report!
Want more market analysis from this author? Make sure to follow @Ryan_McQueeneyon Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Oracle (ORCL) Posts Earnings Beat, Cloud Revenues Climb 32%
Oracle Corporation (ORCL - Free Report) just released its latest quarterly financial results, posting non-GAAP earnings of $0.83 per share and revenues of $9.8 billion.
Currently, ORCL is a Zacks Rank #3 (Hold), but that could change based on today’s results. The stock is currently down 2% to $50.92 per share in after-hours trading shortly after its earnings report was released.
Oracle:
Beat earnings estimates. The company posted adjusted earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.72. Quarterly GAAP earnings came in at -$0.98 per share due to one-charges related to the 2017 Tax Cuts and Jobs Act.
Matched revenue estimates. The company saw revenue figures of $9.77 billion, basically in line with our consensus estimate of $9.79 billion.
Total revenues were up 6%. Cloud and On-Premise Software Revenues climbed 8%. Cloud Software as a Service revenues soared 33%. Total Cloud Revenues gained 32%.
“During FY17, I forecast double-digit non-GAAP earnings per share growth for FY18,” said Oracle CEO Safra Catz. “With non-GAAP earnings per share up 20% in Q3, our year-to-date earnings per share growth is now up to 16%. At this point, I feel quite confident that we will comfortably deliver on my original forecast of double-digit non-GAAP earnings per share growth for FY18.”
Here’s a graph that looks at Oracle’s recent earnings performance:
Oracle Corporation Price, Consensus and EPS Surprise
Oracle Corporation Price, Consensus and EPS Surprise | Oracle Corporation Quote
Oracle Corporation is a global provider of enterprise cloud computing and is empowering businesses of all sizes on their journey of digital transformation. Oracle's application suites, platforms, and infrastructure leverage both the latest technologies and emerging ones, including artificial intelligence (AI), machine learning, blockchain, and Internet of Things (IoT).
Check back later for our full analysis on ORCL’s earnings report!
Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>