Oracle saw its stock fall by more than 4 percent after reporting better-than-expected earnings for the second quarter of its 2018 fiscal year, which ended on Nov. 30. The company will hold a conference call with analysts at 5 p.m. Eastern time.
EPS: Excluding certain items, 70 cents in earnings per share vs. 68 cents expected by analysts, according to Thomson Reuters. Revenue: $9.62 billion vs. $9.57 billion expected by analysts, according to Thomson Reuters. Revenue rose 6 percent year over year, the company said in a statement. On-premises software brings in more revenue than anything else at Oracle, and in this quarter it generated $6.3 billion, which was up 3 percent. But within that category, new software license revenue of $1.35 billion was flat.
Oracle said its cloud revenue grew by 44 percent year over year; analysts had expected a cloud growth rate of 43.7 percent, according to KeyBanc analysts Monika Garg and Jason Celino. Oracle has become more focused on growing its cloud computing revenue amid falling software license revenue.
Submitted December 14, 2017 at 04:20PM by liano http://ift.tt/2B2jrR4
