Back to top

Quarterly Beats for Oracle (ORCL) & Adobe (ADBE), Broadcom (AVGO) Mixed

Read MoreHide Full Article

Oracle (ORCL - Free Report) has once again outperformed earnings estimates after today's closing bell, posting 87 cents per share versus a Zacks consensus of 84 cents, on $9.62 billion in quarterly revenues that beat the $9.59 billion expected. The company has not missed an earnings estimate since Q1 of fiscal 2017.

Standing out initially is $6.6 billion in cloud-based revenues for the quarter, a bit ahead of where analysts where anticipating. Oracle stock has risen 19.5% year to date ahead of this news; shares are actually ticking down slightly on modestly lowered guidance for next quarter.

Adobe Systems (ADBE - Free Report) also topped expectations on its fiscal Q1 2019 earnings and sales results, with $1.71 per share on $2.60 billion surpassing the $1.61 per share and $2.54 billion analysts were looking for. Next quarter earnings per share guidance of $1.77 per share is well below the Zacks consensus $1.89, however. Yet shares continue inching upward in late trading, after surging roughly 30% from Christmas Eve 2018.

Broadcom (AVGO - Free Report) , maker of radio frequency chips for smartphones, put up mixed quarterly report after the bell: earnings of $5.55 per share topped the $5.29 expected, but revenues of $5.79 billion were shy of the $5.82 billion in our consensus estimate.

The company cited the slowdown in China as being a factor, but because this has already been factored into fiscal full-year estimates, the company is retaining earnings guidance for 2020. Shares of AVGO are up 4.7% in late trading, putting the stock back up to levels seen a month ago.

Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.

This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.

See their latest picks free >>


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Oracle Corporation (ORCL) - free report >>

Adobe Inc. (ADBE) - free report >>

Broadcom Inc. (AVGO) - free report >>

Published in