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.”
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.