Oracle (ORCL) this afternoon reported fiscal first quarter profits in line with analysts’ estimates, though revenue came in on the low side.
Revenue in the three months ended in August fell 2% to $8.2 billion. Net income was up 11% on a GAAP basis to $2 billion, or 6% to $2.6 billion on a non-GAAP basis, yielding earnings per share of 41 cents, or 53 cents non-GAAP.
Analysts on average were looking for net income of $2.6 billion, or 53 cents, with options expenses excluded, and revenue of $8.4 billion, according to Thomson Reuters.
Oracle CEO Larry Ellison said in a press release that
“Exadata, Exalogic, Exalytics and our other engineered systems grew more than 100% in the quarter. For the full year, we expect to double engineered systems sales to well over $1 billion. Oracle’s new cloud business is also approaching a $1 billion annual run rate. These two businesses will drive Oracle’s growth for years to come.”
And added that in “a little more than a week from now we will announce lots of enhancements to the Oracle Cloud.”
Oracle shares fell 21 cents, or 0.56%, to $32.08 in late trading. The shares fell 1.6% in the regular session Thursday.
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