Categories Earnings, Technology

What to expect when Oracle (ORCL) reports Q2 earnings?

Oracle Corporation (NYSE: ORCL) is scheduled to report second quarter 2020 earnings results on Thursday, December 12, after the market closes. Analysts expect the company to report earnings of $0.88 per share on revenue of $9.65 billion.

The company’s topline numbers are expected to benefit from strength in its cloud-based services as well as the launch of autonomous cloud services to complement the autonomous database. The strength in autonomous database is likely to bode well for the results. In the first quarter of 2020, Oracle added over 500 new autonomous database cloud customers and this is projected to more than double in the second quarter.

The strength in the cloud ERP business is also likely to boost the quarterly results. Last quarter, the cloud ERP businesses, including Fusion ERP and NetSuite ERP, grew 33%. Oracle continues to improve its cloud-based services as it faces tough competition from Amazon (NYSE: AMZN) and Alphabet’s (NYSE: GOOG) Google. However, higher costs are likely to pressurize margins in the second quarter.   

Also read: Oracle Q1 2020 Earnings Conference Call Transcript

In the first quarter, the company reported adjusted earnings of $0.81 per share that was up 14% year-over-year and in line with analysts’ forecasts. Revenue amounted to $9.2 billion which was below estimates.

For the second quarter, Oracle has guided for revenue growth of 0-2% in US dollars and 1-3% in constant currency. Adjusted EPS is expected to grow between 9-11% to a range of $0.87-0.89 in US dollars, and between 10-12% to a range of $0.88-0.90 in constant currency. Shares of Oracle have gained over 23% so far this year and 2% in the past three months. The stock has an average 12-month price target of $56.92.

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

Most Popular

Weibo (WB) Earnings: 1Q21 Key Numbers

Weibo Corporation (NASDAQ: WB) reported first-quarter 2021 earnings results today. Net revenues increased by 42% year-over-year at $458.9 million and 31% increase on a constant currency basis. Net income attributable

Earnings calendar for the week of May 10

Stock markets rallied amid mixed cues on the health of the labor market, with latest data showing that payrolls grew at a slower-than-expected pace while unemployment claims slipped below the

Apple-Epic legal fight could set a new paradigm for mobile app distribution

These days the tech world is abuzz with the legal battle between gadget giant Apple, Inc. (NASDAQ: AAPL) and Epic Games, which has elicited significant media interest. The trial in

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