Oracle (NYSE:ORCL) earnings for the computer tech company’s fiscal second quarter of 2020 have ORCL stock down on Thursday. This is despite its adjusted earnings per share of 90 cents. That’s better than Wall Street’s estimate of 88 cents. Unfortunately, its revenue of $9.61 billion is below analysts’ estimate of $9.65 billion.
Here’s what else is worth noting from the current Oracle earnings report.
- Adjusted EPS is up 12.50% from 80 cents in the fiscal second quarter of 2019.
- Revenue is only slightly higher than the $9.56 billion from the same time last year.
- Operating income of $3.18 billion is a 2.58% increase YoY from $3.10 billion.
- The Oracle earnings report also has net income coming in at $2.31 billion.
- That’s an almost 1% drop from its net income of $2.33 million in the same period of the year prior.
Safra Catz, CEO of Oracle, says this about the ORCL stock earnings.
“We had another strong quarter in our Fusion and NetSuite cloud applications businesses with Fusion ERP revenues growing 37% and NetSuite ERP revenues growing 29%. This consistent rapid growth in the now multibillion dollar ERP segment of our cloud applications business has enabled Oracle to deliver a double-digit EPS growth rate year-after-year. I fully expect we will do that again this year.”
The newest Oracle earnings report doesn’t include an outlook update. However, we know Wall Street is looking for adjusted per-share earnings of 97 cents on revenue of $9.84 billion in fiscal Q3 2020.
ORCL stock was down 1.63% after-hours Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.