Oracle's revenue didn't drop like Wall Street thought it would, and the stock jumps a little
- On Monday after the bell, Oracle reported quarterly earnings of $0.80 per share on revenues of $9.56 billion, beating analyst expectations on both counts.
- Wall Street had projected revenues of $9.52 billion, which would have been a slight dip from the same period last year. Instead, Oracle revenues stayed flat, putting it ahead of expectations.
- The stock is up about 1.5% in after-hours trading.
- This quarter, Oracle saw more growth in its enterprise resource planning business.
Oracle reported its quarterly earnings after the bell on Monday, beating Wall Street expectations on the top and bottom lines. The stock is trading after-hours at about 1.5% up at the time of publication.
Here's what Oracle posted:
- Revenue of $9.56 billion, versus $9.52 billion expected.
- Earnings per share of $0.80, versus $0.78 expected.
On the plus side, Oracle's non-GAAP earnings per share shot up 16% from the same period of 2017, all the way to $0.80. During this time last year, earnings per share were $0.69.
"I am confident that we will continue to record strong EPS and free cash flow growth during the second half of this fiscal year," Oracle CEO Safra Catz said in a statement.
Oracle saw a bit of growth in Total Cloud Services and License Support, where the revenue rose 1%. Also, Oracle's enterprise resource planning businesses, Fusion ERP and NetSuite ERP, both delivered a 32% revenue growth rate from the same period last year.
Oracle CEO Mark Hurd sees more room for growth in this business, he said in a statement."ERP has always been the largest segment of the enterprise applications business, so we have lots of room to grow as customers migrate from their traditional on-premise ERP to the Oracle Fusion ERP Cloud," Oracle CEO Mark Hurd said in a statement.
Next quarter, analysts are predicting revenues of $9.85 billion and an EPS of $0.84. Oracle will announce its official guidance figures on a conference call later on Monday afternoon.