Oracle Corp. reported fiscal-second-quarter earnings that surpassed analyst estimates. Revenue, however, fell behind estimates.
The software and technology company’s non-GAAP net income for the quarter came in at $3 billion, or 90 cents a share – higher than the 89 cents a share that analyst polled by FactSet had estimated.
Revenue of $9.61 billion came in lower than analysts’ expectation of $9.65 billion.
Oracle CEO Safra Catz mentioned strengths in Fusion and NetSuite cloud applications businesses with Fusion [Enterprise Resource Planning] revenues growing 37% and NetSuite ERP revenues growing 29%. According to Catz, ERP segment of its cloud applications business has enabled Oracle to deliver a “double-digit EPS growth rate year after year”; he is sanguine that the company will deliver similar results again this year.
For the coming quarter, analysts are expecting net income of $3.2 billion, or 97 cents a share, on sales of $9.8 billion.