Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Oracle Rides Cloud Demand to Q4 Results Beat

Published 06/15/2021, 04:13 PM
Updated 06/15/2021, 04:13 PM
© Reuters. Oracle Earnings, Revenue Beat in Q4

By Yasin Ebrahim

Investing.com - Oracle (NYSE:ORCL) reported on Tuesday fourth quarter earnings that beat analysts' forecasts as rising demand for cloud services bolstered results.

Oracle shares lost nearly 3% in after-hours trade following the report.

Oracle announced earnings per share of $1.54 on revenue of $11.23 billion. Analysts polled by Investing.com anticipated EPS of $1.31 on revenue of $11.02 billion.

Revenue beat guidance by nearly $200 million, and non-GAAP earnings per share beat by 24 cents, driven by strong revenue growth in the company's Fusion and NetSuite Cloud ERP applications businesses.

"Fusion and NetSuite cloud applications businesses saw dramatic increases in their already rapid revenue growth rates..." the company said.

Cloud services and license support revenues were up 8%, to $7.4 billion year-on-year, while cloud license and on-premise license revenues were down 9% to $2.1 billion.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Latest comments

Back to 65 for them , then consolidate.
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.