Oracle Chairman and Chief Technology Officer Larry Ellison delivers a speech at the Oracle OpenWorld conference in San Francisco on September 16, 2019.
Justin Sullivan | Getty Images News | Getty Images
Oracle Shares of the database software provider rose 8% in after-hours trading on Monday after the company reported first-quarter results that beat Wall Street expectations.
Here’s how the company compares to the LSEG consensus:
- Earnings per share: Adjusted $1.39, expected $1.32
- income: US$13.31 billion, expected US$13.23 billion
Oracle’s revenue grew 8% from $12.45 billion a year ago statement. Net income rose to $2.93 billion, or $1.03 a share, from $2.42 billion, or 86 cents a share, a year earlier.
The company said its cloud services and licensing support businesses generated $10.52 billion in revenue. The figure was up 10% from a year earlier and topped StreetAccount’s consensus forecast of $10.47 billion.
Revenue from Oracle’s cloud and on-premises licensing division was $870 million, up 7%, exceeding StreetAccount’s forecast of $757.6 billion.
Cloud infrastructure revenue reached $2.2 billion, an increase of 45%. This is an acceleration from the previous quarter, when revenue grew 42%.
This quarter, Oracle announced the opening of a second cloud region in China. Saudi Arabia and stated that its database software will be Google’s Public cloud.
Oracle said in a separate statement on Monday explain It will partner with cloud infrastructure market leader Amazon Web services enable their database services on dedicated hardware.
Excluding after-hours action, Oracle shares are up about 34% so far this year, while the S&P 500 stock index has risen about 15%.
Executives will issue guidance and discuss the results with analysts in a conference call starting at 5 p.m. ET.
watch: Gradient’s Jeremy Bryan says Oracle could lead the next generation of artificial intelligence
About The Author
