Oracle Earnings, sales beaten in the first quarter; Share increase by Investing.com

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© Reuters. Oracle Earnings, Revenue Beat au premier trimestre

Par yasin ebrahim

Investing.com – Oracle (NYSE 🙂 released first quarter fiscal results Thursday that beat analysts’ expectations and revenue that exceeded expectations, thanks to growth in its cloud applications business.

Oracle was up 5% after hours.

Oracle reported earnings per share of $ 0.93 on revenue of $ 9.37 billion. Analysts polled by Investing.com were forecasting EPS of $ 0.86 on revenue of $ 9.17 billion.

Revenue from cloud services and license support grew 2% to $ 6.9 billion year-on-year.

“Our cloud applications business continued to grow rapidly in revenue with Fusion ERP up 33% and NetSuite ERP up 23%. We now have 7,300 Fusion ERP customers and 23,000 NetSuite ERP customers in Oracle Cloud. Our infrastructure business is also growing rapidly thanks to Zoom more than doubled between the fourth quarter of last year and the first quarter of this year. I have no doubts that our income will accelerate as we pass COVID-19, ”the company said.

Oracle shares are up 7% from the start of the year, still down 4.18% from its 52-week high of $ 59.31 set on September 2. They outperform the which is up 3.28% since the start of the year.

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