Oracle's Revenue Beats Targets in Latest Quarter

Date : 06/19/2019 @ 10:01PM
Source : Dow Jones News
Stock : Oracle Corp. (ORCL)
Quote : 59.09  -0.44 (-0.74%) @ 4:37PM

Oracle's Revenue Beats Targets in Latest Quarter

Oracle Corp. (NYSE:ORCL)
Historical Stock Chart

1 Month : From Jun 2019 to Jul 2019

Click Here for more Oracle Corp. Charts.
By Micah Maidenberg 

Oracle Corp. reported stronger-than-expected sales and beat profit targets for its latest quarter.

The company said on Wednesday that fiscal-fourth-quarter revenue increased about 1% from the year earlier to $11.14 billion, surpassing the $10.93 billion that analysts polled by FactSet predicted.

Oracle reported a decline in revenue versus the year earlier periods in its previous two quarters. It faces robust competition -- including from Microsoft Corp., Inc. and Inc. -- to sell businesses services and software via the cloud. Earlier this month, Salesforce said revenue rose by 24% in its latest quarter.

Oracle's largest business unit, cloud services and license support, booked $6.79 billion in revenue in the latest quarter, up 0.5% compared with last year. Sales from its cloud license and on-premise license business gained 12% to $2.52 billion.

The company's adjusted profit margin of 47% in the quarter that ended May 31 was the highest level it has recorded in five years, co-Chief Executive Safra Catz said.

Shares of Oracle gained 6% in after-hours trading Wednesday.

Profit rose to $3.74 billion, or $1.07 cents a share, for the quarter, up from $3.28 billion, or 79 cents a share last year. After adjustments, it reported a profit of $1.16 a share, 9 cents better than Wall Street targets.

Write to Micah Maidenberg at


(END) Dow Jones Newswires

June 19, 2019 16:46 ET (20:46 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest ORCL Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.