Oracle Corporation (ORCL) Jumps 10% on Earnings Blowout

Advertisement

Oracle - Oracle Corporation (ORCL) Jumps 10% on Earnings Blowout

Yesterday InvestorPlace.com’s Laura Hoy made a pretty good call on Oracle Corporation (NYSE:ORCL). She noted that “[t]raders would be wise to capitalize on the firm’s low share price now before a surge following its earnings report.”

Oracle Corporation (ORCL) Jumps 10% on Earnings Blowout

Source: Shutterstock

So yes, the company did perform — and then some. In after-hours trading, ORCL stock is up about 10% to $51.2. That’s a 52-week high, with the market cap now over $205 billion

As for the quarter, Oracle handily beat on both the top and bottom lines. Revenues came in at $10.9 billion and earnings hit 89 cents a share. By comparison, the Street was forecasting revenues of $10.46 billion and earnings of 78 cents a share.

Here are some other highlights of the Oracle quarter:

  • The SaaS (Software as a Service) segment saw revenues shoot up 67% to $964 million.
  • Cloud PaaS (Platform as a Service) plus IaaS (Infrastructure as a Service) revenues climbed 40% to $397 million.
  • Oracle generated operating cash flows of $14.1 billion during the past 12 months.
  • AT&T Inc. (NYSE:T) entered into an agreement to move its Oracle databases to the cloud.

Return later for more in-depth analysis.

Tom Taulli runs the InvestorPlace blog IPO Playbook and is the author of various books, including All About Commodities, All About Short Selling and High-Profit IPO Strategies. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.

Tom Taulli is the author of various books. They include Artificial Intelligence Basics and the Robotic Process Automation Handbook. His upcoming book is called Generative AI: How ChatGPT and other AI Tools Will Revolutionize Business.


Article printed from InvestorPlace Media, https://investorplace.com/2017/06/oracle-corporation-orcl-jumps-8-on-its-cloud-moves/.

©2024 InvestorPlace Media, LLC