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.

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.
Most Popular
LLY Earnings: Eli Lilly Q4 2024 profit more than doubles; revenue up 45%
Eli Lilly and Company (NYSE: LLY) Thursday reported a sharp increase in its fourth-quarter revenues. The pharmaceutical company's adjusted earnings more than doubled during the quarter. Worldwide revenue increased 45%
Ford Motor Company (F) Earnings: 4Q24 Key Numbers
Ford Motor Company (NYSE: F) reported revenue of $48.2 billion for the fourth quarter of 2024, up 5% year-over-year. GAAP net income was $1.8 billion, or $0.45 per share, compared
Philip Morris (PM) Q4 2024 Earnings: Key financials and quarterly highlights
Philip Morris International Inc. (NYSE: PM) reported its fourth quarter 2024 earnings results today. Net revenues increased 7.3% year-over-year to $9.7 billion. Organic revenue growth was also 7.3%. Net loss attributable