Oracle Corporation (NYSE: NYSE:ORCL)
Oracle Corporation (ORCL), a global database and software company yesterday reported their fiscal fourth quarter 2017 financial results. ORCL reported fourth quarter profit of $3.23 billion.
ORCL reported fourth quarter adjusted earnings of $0.89 per share which beat analyst expectations of $0.78 per share. The company reported fourth quarter adjusted revenues of $10.94 billion which beat analyst expectations of $10.46 billion.
Oracle Corporation CEO’s Comments
“Our fourth quarter results were very strong as revenue growth and earnings per share both substantially exceeded the high end of guidance,” said Oracle CEO, Safra Catz. “We continue to experience rapid adoption of the Oracle Cloud led by the 75% growth in our SaaS business in Q4. This cloud hyper-growth is expanding our operating margins, and we expect earnings per share growth to accelerate in fiscal 2018.”
“We sold $855 million of new annually recurring cloud revenue (ARR) in Q4, putting us over our $2 billion ARR bookings goal for fiscal year 2017,” said Oracle CEO, Mark Hurd. “We also delivered over $1 billion in quarterly SaaS revenue for the first time. Next year is going to be even better. We expect to sell a lot more than $2 billion in new cloud ARR in fiscal year 2018.” PR Newswire
ORCL Technical Analysis
ORCL opened trading yesterday at $46.15 which was up from the previous day’s trading close of $45.84. ORCL closed trading yesterday at $46.33 and spiked up after market to $51.13, equivalent to a 10% increase from the closing price. Taking a look at the daily chart we can see that ORCL is now in unchartered territory as with the gap up it’s trading at all time highs.
Taking a closer look at the daily chart we can see that before the spike up ORCL had already been in an overall upward trend dating back to December 30th, 2016 when it traded at $38.14. ORCL has a float of 2.99 billion shares and traded 2.76 times the normal daily trading volume on Wednesday.
For trading purposes, I would like to see ORCL open trading on Thursday above $49.50 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.30 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports database and middleware software, application software, cloud infrastructure, hardware systems, and related services worldwide. It offers services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
The company licenses its Oracle Database software, which enables storage, retrieval, and manipulation of various forms of data; and Oracle Fusion Middleware software to build, deploy, secure, access, and integrate business applications, as well as automate their business processes. It also provides a range of software for mobile computing to address the development needs of businesses; and Java, a software development language.
In addition, the company offers application software, such as human capital and talent management, customer experience and customer relationship management, financial management and governance, risk and compliance, procurement, project portfolio management, supply chain management, business analytics and enterprise performance management, and industry-specific application software. Further, it offers hardware systems products, such as Oracle Engineered Systems, servers, storage, networking, industry specific hardware, virtualization software, operating systems, management software, and related hardware services.
Additionally, the company offers customers with rights to software product upgrades and maintenance releases, patches released, and Internet access to technical content, as well as Internet and telephone access to technical support personnel.
The company also provides consulting services, such as IT strategy alignment, enterprise architecture planning and design, initial product implementation and integration, and ongoing product enhancement and upgrade; customer support services; and education services. Oracle Corporation was founded in 1977 and is headquartered in Redwood City, California.