Larry Ellison, chairman and co-founder of Oracle Corp., spoke during the Oracle OpenWorld 2017 conference in San Francisco on Oct. 1, 2017. Oracle’s shares surged 9% in extended trading on Monday following its fiscal first-quarter results which surpassed Wall Street expectations.
The database software vendor reported adjusted earnings per share of $1.39, exceeding the anticipated $1.32. Revenue reached $13.31 billion, higher than the expected $13.23 billion and marking an 8% increase from last year’s $12.45 billion. Net income jumped to $2.93 billion, or $1.03 per share, from $2.42 billion, or 86 cents per share, in the same quarter a year prior.
Oracle’s stock, now priced around $153 after hours, is poised to set a new record on Tuesday, eclipsing its previous high of $145.03 in July. Year-to-date, Oracle’s stock has risen by approximately 34%, outpacing the S&P 500’s 15% gain.
Key contributors to this growth include the cloud services and license support segment, which generated $10.52 billion in revenue, a 10% increase from last year and above the StreetAccount consensus of $10.47 billion. Additionally, its cloud and on-premises license segment revenue climbed 7% to $870 million, surpassing the StreetAccount consensus of $757.6 million. Oracle’s cloud infrastructure revenue also saw a significant rise, reaching $2.2 billion, up 45% from the previous quarter’s 42% growth.
During the quarter, Oracle expanded its cloud footprint with a new region in Saudi Arabia and announced that its database software will soon be available on Google’s public cloud. In collaboration with Amazon Web Services, Oracle will offer its database services on dedicated hardware.
Further insights and guidance will be provided by Oracle executives on a conference call with analysts starting at 5 p.m. ET.
Original Story https://www.cnbc.com/2024/09/09/oracle-orcl-q1-earnings-report-2025.html
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