{"id":26371,"date":"2024-09-09T21:10:06","date_gmt":"2024-09-09T21:10:06","guid":{"rendered":"http:\/\/108031069"},"modified":"2024-09-09T21:10:06","modified_gmt":"2024-09-09T21:10:06","slug":"oracle-shares-jump-on-earnings-and-revenue-beat","status":"publish","type":"post","link":"https:\/\/wp.worldtechguide.net\/oracle-shares-jump-on-earnings-and-revenue-beat\/","title":{"rendered":"Oracle shares jump on earnings and revenue beat"},"content":{"rendered":"<p><span class=\"HighlightShare-hidden\"><\/span><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107428049\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Larry Ellison, chairman and co-founder of Oracle Corp., speaks during the Oracle OpenWorld 2017 conference in San Francisco on Oct. 1, 2017.<\/p>\n<p>David Paul Morris | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><span class=\"waslinkname\">Oracle<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> shares rose 9% in extended trading on Monday after the database software vendor reported fiscal first-quarter results that topped Wall Street estimates.<\/p>\n<p>Here&#8217;s how the company did in comparison with LSEG consensus:<\/p>\n<ul>\n<li><strong>Earnings per share:<\/strong> $1.39 adjusted vs. $1.32 expected<\/li>\n<li><strong>Revenue:<\/strong> $13.31 billion vs. $13.23 billion expected<\/li>\n<\/ul>\n<p>Oracle&#8217;s revenue increased 8% from $12.45 billion a year ago, according to a <span class=\"waslinkname\">statement<\/span>. Net income rose to $2.93 billion, or $1.03 per share, from $2.42 billion, or 86 cents per share, in the same quarter a year ago.<\/p>\n<p>At its after hours price of about $153, Oracle is on pace to reach a record on Tuesday. The stock&#8217;s highest close to date was $145.03 in July. Prior to the report, Oracle was about 34% so far this year, compared to the S&amp;P 500&#8217;s 15% gain.<\/p>\n<p>The company said its cloud services and license support business generated $10.52 billion in revenue. That was up 10% from a year earlier and higher than the StreetAccount consensus of $10.47 billion.<\/p>\n<p>Oracle&#8217;s cloud and on-premises license segment had $870 million in revenue, up 7% and more than StreetAccount&#8217;s $757.6 billion consensus.<\/p>\n<p>Revenue from cloud infrastructure came to $2.2 billion, up 45%. That&#8217;s an acceleration from the prior quarter, during which the revenue went up 42%.<\/p>\n<p>&#8220;Demand continued to outstrip supply&#8221; of consumption-based cloud infrastructure, CEO Safra Catz said on a conference call with analysts.<\/p>\n<p>During the quarter, Oracle announced the opening of a second cloud region in <span class=\"waslinkname\">Saudi Arabia<\/span> and said its database software will be available through <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-4\"><span class=\"waslinkname\">Google&#8217;s<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> public cloud.<\/p>\n<p>In a separate statement on Monday, Oracle <span class=\"waslinkname\">said<\/span> it would partner with cloud infrastructure market leader <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-6\"><span class=\"waslinkname\">Amazon<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> Web Services to enable its database services on dedicated hardware.<\/p>\n<p>Executives will issue guidance and discuss the results with analysts on a conference call starting at 5 p.m. ET.<\/p>\n<p><strong>WATCH:<\/strong> <span class=\"waslinkname\">Oracle could lead the next generation of AI, says Gradient&#8217;s Jeremy Bryan<\/span><\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108027326\">\n<div role=\"button\" id=\"Placeholder-ArticleBody-Video-108027326\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000350205\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/wp.worldtechguide.net\/wp-content\/uploads\/2024\/09\/oracle-shares-jump-on-earnings-and-revenue-beat.jpg\" alt=\"Oracle could lead the next generation of AI, says Gradient's Jeremy Bryan\"><span class=\"InlineVideo-videoButton\"><\/span><span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Larry Ellison, chairman and co-founder of Oracle Corp., speaks during the Oracle OpenWorld 2017 conference in San Francisco on Oct. 1, 2017. David Paul Morris | Bloomberg | Getty Images Oracle shares rose 9% in extended trading on Monday after the database software vendor reported fiscal first-quarter results that topped Wall Street estimates. Here&#8217;s how &hellip;<\/p>\n","protected":false},"author":1,"featured_media":26372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"hashtags":[],"class_list":["post-26371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","has-thumb","has-featured"],"_links":{"self":[{"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/posts\/26371"}],"collection":[{"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/comments?post=26371"}],"version-history":[{"count":0,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/posts\/26371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/media\/26372"}],"wp:attachment":[{"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/media?parent=26371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/categories?post=26371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/tags?post=26371"},{"taxonomy":"hashtags","embeddable":true,"href":"https:\/\/wp.worldtechguide.net\/wp-json\/wp\/v2\/hashtags?post=26371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}