Oracle Corp. shares slipped in the extended session Monday after the database-software company’s earnings topped Wall Street estimates but its revenue didn’t.
Oracle
ORCL,
shares declined 2.5% after hours, following a 0.9% decline in the regular session to close at $88.89.
For the fiscal first quarter, Oracle reported net income of $2.46 billion, or 86 cents a share, compared with $2.25 billion, or 72 cents a share, in the year-ago period.
Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.03 a share, compared with 93 cents a share in the year-ago period.
Revenue rose to $9.73 billion from $9.37 billion in the year-ago quarter.
Analysts surveyed by FactSet had estimated earnings of 97 cents a share on revenue of $9.76 billion.
“Oracle’s two new cloud businesses, IaaS and SaaS, are now over 25% of our total revenue with an annual run rate of $10 billion,” said Chief Executive Safra Catz in a statement. “Taken together, IaaS and SaaS are Oracle’s fastest growing and highest margin new businesses. As these two cloud businesses continue to grow they will help expand our overall profit margins and push earnings per share higher.”
This post was originally published on Market Watch
