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Larry Ellison, Oracle Chairman and Chief Technology Officer, speaks at the Oracle OpenWorld Conference in San Francisco on September 16, 2019.
Justin Sullivan | Getty Images
inspiration Shares rose as much as 5% in extended trading Monday after the software vendor reported fiscal fourth-quarter results that beat Wall Street expectations.
Here’s how the company did:
- Earnings: $1.67 per share, adjusted, versus $1.58 per share as expected by analysts, according to Refinitiv.
- he won: $13.84 billion, compared to $13.73 billion as expected by analysts, according to Refinitiv.
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Oracle revenue grew 17% year-over-year in the quarter ended May 31, according to A statement. Net income was $3.32 billion, or $1.19 per share, compared to $3.19 billion, or $1.16 per share, in the year-ago quarter.
The company’s largest source of revenue, cloud services and licensing support, jumped 23% to $9.37 billion. But revenue from cloud and on-premises licenses fell 15% to $2.15 billion.
Revenue from cloud infrastructure totaled $1.4 billion, up 76%, accelerating from the 55% growth in the prior quarter. This segment of Oracle is expanding faster than competitors such as Microsoft And Google But it is still much smaller.
During the quarter, Oracle He said More of its cloud services have received approval for use by US defense and intelligence agencies.
Excluding the after-hours move, Oracle shares are up nearly 43% this year, while the S&P 500 is up about 13% over the same period. The stock rose 6% in regular trading, its best day in a year, after Wolfe Research analysts upgraded the stock to the equivalent of a buy from a contract based on improving financial conditions along with the company’s position in artificial intelligence.
Executives will discuss the results and issue guidance on a conference call with analysts starting at 5 p.m. ET.
This is breaking news. . Please check back for updates
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