Oracle (NYSE:ORCL) earnings for the computer technology company’s fiscal fourth quarter of 2020 have ORCL stock falling after-hours Tuesday. That’s despite its adjusted earnings per share of $1.20 beating out Wall Street’s estimate of $1.16. Unfortunately, its revenue of $10.44 billion is below analysts’ estimates of $10.67 billion.
Here’s what else is worth mentioning from the most recent Oracle earnings report.
- Adjusted per-share earnings are up 3.5% from $1.16 during the same time last year.
- Revenue for the quarter comes in 6% lower than the $11.14 billion reported in fiscal Q4 2019.
- Operating income of $4.31 billion is a 1% increase year-over-year from $4.26 billion.
- The Oracle earnings report also includes a net income of $3.12 billion.
- That’s a 17% decline compared to its net income of $3.74 billion in the same period of the year prior.
Safra Catz, CEO of Oracle, said this in the earnings report.
“Our overall business did remarkably well considering the pandemic, but our results would have been even better except for customers in the hardest-hit industries that we serve such as hospitality, retail, and transportation postponing some of their purchases. Still, for the third year in a row, we delivered double-digit constant currency earnings per share growth in FY20.”
Oracle doesn’t discuss guidance in its most recent earnings report. That could be due to the chaos the novel coronavirus is causing. Many other companies are withholding outlooks for that reason.
ORCL stock was down 4.6% after markets closed on Tuesday but was up 2.7% as the end of normal trading hours.
As of this writing, William White did not hold a position in any of the aforementioned securities.