Software giant Oracle Corporation (NYSE: ORCL) will be reporting financial results for the first quarter of 2024 today after the closing bell.
It is estimated that adjusted net income increased to $1.15 per share in the first three months of the year from $1.03 per share in the same period of last year. The positive outlook reflects an estimated 9% growth in revenues to $12.47 billion.
In the fourth quarter, the company’s revenues increased 17% annually to $13.8 billion. Revenues of Cloud Services and License Support, the core business segment, grew 23%
Adjusted earnings increased to $1.67 per share in Q4 from $1.54 per share a year earlier. Net income, including one-off items, was $3.32 billion or $1.19 per share, compared to $3.19 billion or $1.16 per share last year.
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