Categories Earnings, Technology

Mixed Q2 fails to please Oracle investors

Software giant Oracle Corporation (NYSE: ORCL) reported strong earnings growth for the second quarter, riding on continued growth in the cloud business. However, the top line came in below the target set by analysts.

Second-quarter earnings, excluding one-off items, rose 12% from last year to $0.90 per share, which was 2 cents above the street consensus. 

Oracle Q2 2020 earnings

Helped by the stable demand for the company’s cloud and license support products, which account for about three-fourths of the total revenues, the top-line came in at $9.6 billion, up 1% year-over-year, but lower than the street estimate.

Cloud Services and License Support revenues were $6.8 billion, while Cloud License and On-Premise License revenues were $1.1 billion.

READ: Alteryx CFO Kevin Rubin on Q4 outlook, stock sell-off and the possibility of getting acquired

CFO Safra Catz said, “We had another strong quarter in our Fusion and NetSuite cloud applications businesses with Fusion ERP revenues growing 37% and NetSuite ERP revenues growing 29%.”

CTO Larry Ellison added, “It’s still early days, but the Oracle Autonomous Database already has thousands of customers running in our Gen2 Public Cloud. Currently, our Autonomous Database running in our Public Cloud business is growing at a rate of over 100%.”

Oracle shares fell 1.98% immediately following the announcement. The stock has gained over 23% so far this year and 2% in the past three months.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

PayPal Holdings (PYPL) Q1 2021 revenue up 31%; earnings beat

PayPal Holdings Inc. (NASDAQ: PYPL) reported stronger-than-expected earnings and revenues for the first quarter of 2021. Shares of the payment service provider gained during Wednesday’s extended trading session soon after

Infographic: How Twilio (TWLO) performed in Q1 2021

Twilio (NYSE: TWLO) reported first quarter 2021 earnings results today. Revenue increased 62% year-over-year to $590 million. GAAP net loss widened to $206 million, or $1.24 per share, compared to

Uber Technologies reports Q1 loss of 6 cents per share: Infographic

Uber Technologies (NYSE: UBER) reported first-quarter 2021 financial results after the regular market hours on Wednesday. The ride-hailing company reported Q1 revenue excluding the UK accrual of $3.5 billion, up

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top