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Oracle (ORCL) Beats Q4 Estimates, Sees Double-Digit Earnings Growth in 2019

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Oracle Corporation (ORCL - Free Report) just released its latest quarterly financial results, posting adjusted earnings of $0.99 per share and revenues of $11.2 billion.

Currently, ORCL is a Zacks Rank #4 (Sell), but that could change based on today’s results. Shares of the company have lost about 1.5% over the past month, including a 0.5% loss during regular trading hours today.

The stock is currently up 1.6% to $47.03 per share in after-hours trading shortly after its earnings report was released.

Oracle:

Beat earnings estimates. The company posted non-GAAP earnings of $0.99, beating the Zacks Consensus Estimate of $0.94. Investors should note that this consensus projection has remained stagnant over the duration of the quarter.

Beat revenue estimates. The company saw revenue figures of $11.3 billion, just edging out our consensus estimate of $11.2 billion. Total revenue was up 3% from the year-ago period.

GAAP earnings per share were up 8% to $0.82, while non-GAAP earnings per share improved 11%. Net income in the quarter was $3.4 billion on a GAAP basis and $4.1 billion on a non-GAAP basis.

Cloud Services and License Support revenues were up 8% to reach $6.8 billion for the quarter. Cloud License and On-Premise License revenues were down 5% to $2.5 billion.

“Last year, I forecast double-digit non-GAAP earnings per share growth for FY18 and we delivered 14% growth this year, largely driven by strong growth in our cloud businesses,” said CEO Safra Catz. “Looking ahead to FY19, I expect revenue growth will enable us to deliver double-digit non-GAAP earnings per share growth once again.”

Oracle also declared a quarterly cash dividend of $0.19 per share. The dividend will be paid to shareholders of record as of July 17, 2018, with a payment of July 31, 2018.

Here’s a graph that looks at Oracle’s recent earnings performance:

Oracle Corporation Price, Consensus and EPS Surprise

Oracle Corporation Price, Consensus and EPS Surprise | Oracle Corporation Quote

Oracle Corporation is a global provider of enterprise cloud computing. Oracle Cloud provides leading-edge capabilities in Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS), and Data as a Service (DaaS).

Check back later for our full analysis on ORCL’s earnings report!

Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!

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