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published in Blogs
Dec 10, 2021
Oracle (ORCL, $88.74) beats fiscal Q2 expectations

Oracle (ORCL, $88.74) beats fiscal Q2 expectations

Oracle reported fiscal second-quarter earnings that surpassed analysts’ expectations.

The cloud tech/software company’s adjusted earnings came in at $1.21 per share, compared to $1.11 per share  expected by analysts, according to Refinitiv poll.

Revenue rose +6% from the year-ago quarter to $10.36 billion, also exceeding the $10.21 billion expected by analysts, according to Refinitiv.

Oracle’s cloud services and license support revenue rose +6% year-over-year, and was just above the StreetAccount consensus estimate of $7.54 billion.

License and on-premises license revenue rose 13% to $1.24 billion, and higher than  the $1.07 billion consensus.

The company projects adjusted fiscal third-quarter earnings per share in the range of $1.14 to $1.18, compared to analysts’ expectation of $1.16 per share. It estimates revenue growth of 3% to 5%, while analysts’ expectations imply about 5%.

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