Oracle Corp. Chairman and co-founder Larry Ellison speaks at the Oracle OpenWorld 2017 conference in San Francisco on October 1, 2017.
David Paul Morris | Bloomberg | Getty Images
trust The database software vendor’s shares rose 9% in extended trading Monday after reporting fiscal first-quarter results that beat Wall Street estimates.
Here’s how the company compares to the LSEG agreement:
- Earnings per share: Expected $1.32 vs adjusted $1.39
- revenue: $132.3 billion expected vs $133.1 billion
Oracle’s revenue rose 8 percent from $12.45 billion a year ago, according to the statement. Net income rose to $2.93 billion, or $1.03 a share, from $2.42 billion, or 86 cents a share, in the same quarter a year ago.
With an after-hours price of around $153, Oracle is expected to hit a record on Tuesday. The stock’s highest close was $145.03 in July. Prior to the report, Oracle was up about 34% so far this year, compared to the S&P 500’s 15% gain.
Oracle expects revenue growth of 7% to 9% in constant currency for the current quarter, CEO Safra Catz said on an earnings call. Analysts had expected growth of 8.8% to $14.1 billion, according to LSEG. The company expects adjusted earnings per share of $1.42 to $1.46 in constant currency for the fiscal second quarter. Analysts had expected earnings per share of $1.47.
The company said its cloud services and licensing support business generated $10.52 billion in revenue, up 10% from a year ago and beating StreetAccount’s consensus estimate of $10.47 billion.
Oracle’s cloud and on-premises licensing revenue rose 7% to $870 million, beating the StreetAccount consensus of $757.6 billion.
Cloud infrastructure revenue increased 45% to $2.2 billion, an acceleration from the previous quarter when revenue grew 42%.
“Demand for consumption-based cloud infrastructure continues to outpace supply,” Catz said on the call.
During the quarter, Oracle announced it was opening a second cloud region in Saudi Arabia and said its database software would be available via: Google’s Public cloud.
Oracle said in a separate statement Monday that it would partner with the cloud infrastructure market leader. Amazon A web service that enables database services on dedicated hardware.
Executives will provide guidance and discuss results with analysts via a conference call beginning at 5 p.m. ET.
