Oracle reported its quarterly earnings after the bell on Monday, beating Wall Street expectations on the top and bottom lines. The stock is trading after-hours at about 1.5% up at the time of publication.
Here's what Oracle posted:
- Revenue of $9.56 billion, versus $9.52 billion expected.
- Earnings per share of $0.80, versus $0.78 expected.
Notably, analysts were predicting Oracle's revenues to drop from the same period last year, but actually, Oracle exceeded expectations insofar as its revenue remained roughly the same. At $9.56 billion, Oracle's revenues were only slightly down this quarter from the $9.59 billion it posted in the comparable period of 2017.
On the plus side, Oracle's non-GAAP earnings per share shot up 16% from the same period of 2017, all the way to $0.80. During this time last year, earnings per share were $0.69.
"I am confident that we will continue to record strong EPS and free cash flow growth during the second half of this fiscal year," Oracle CEO Safra Catz said in a statement.
Oracle saw a bit of growth in Total Cloud Services and License Support, where the revenue rose 1%. Also, Oracle's enterprise resource planning businesses, Fusion ERP and NetSuite ERP, both delivered a 32% revenue growth rate from the same period last year.
Oracle CEO Mark Hurd sees more room for growth in this business, he said in a statement.
"ERP has always been the largest segment of the enterprise applications business, so we have lots of room to grow as customers migrate from their traditional on-premise ERP to the Oracle Fusion ERP Cloud," Oracle CEO Mark Hurd said in a statement.
Next quarter, analysts are predicting revenues of $9.85 billion and an EPS of $0.84. Oracle will announce its official guidance figures on a conference call later on Monday afternoon.
