Oracle Tops Second Quarter Earnings

Oracle Tops Second Quarter Earnings

Oracle (NYSE: ORCL) shares rose about 4% during after-hours trading Monday following the report of fiscal second-quarter earnings that topped analysts’ expectations. Nevertheless, the company disclosed a lighter earnings forecast than analysts had anticipated.

The multinational computer technology corporation reported earnings of USD1.21 per share, compared to the expected USD1.18 a share. Revenue amounted to USD12.28 Billion, higher than analysts anticipated USD12.05 Billion.

“In Q2, Oracle’s total revenue grew 25% in constant currency—exceeding the high end of our guidance by more than $200 million,” said Oracle CEO, Safra Catz. “That strong overall revenue growth was powered by our infrastructure and applications cloud businesses that grew 59% and 45% respectively, in constant currency. Fusion Cloud ERP grew 28% in constant currency, NetSuite Cloud ERP grew 29% in constant currency—each and every one of our strategic businesses delivered solid revenue growth in the quarter.”

If it hadn’t been for the impact caused by foreign exchange rates, Oracle’s adjusted earnings would have been USD0.09 higher, according to the company. Revenue for the quarter was over USD200 Million above the high end of its guidance range, Catz stated. She reiterated the strength of cloud infrastructure and cloud-based applications.

“We really have it coming from all areas,” she said on Monday’s call.

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