Shares of Oracle Corporation (NYSE: ORCL) jumped 10% in extended trading after the computer software company reported strong results for its fiscal fourth quarter.
Notable figures in oracle Q4 results
- Net income printed at $3.2 billion versus the year-ago figure of $4.0 billion
- Per-share earnings of $1.16 were below $1.37 in Q4 of the previous year
- On an adjusted basis, EPS stood at $1.54 in the recent financial quarter
- Revenue went up 5.0% year-over-year to $11.8 billion in fiscal Q4.
- FactSet consensus was for $1.37 of adjusted EPS on $11.8 billion in revenue
Infrastructure cloud revenue saw an annualised growth of 39%. In the earnings press release, CEO Safra Catz said:
We experienced a major increase in demand in our infrastructure cloud business. We believe that this revenue growth spike indicates that our infrastructure business has now entered a hyper-growth phase.
Dividend and analyst’s remarks
Oracle also announced 32 cents a share of quarterly cash dividend on Monday. Speaking with MarketWatch, Futurum Research’s Daniel Newman agreed the most noteworthy of all numbers in the earnings report was the growth in cloud infrastructure business.
The real story here is the impressive 39% growth in cloud infrastructure business, putting Oracle’s growth more on pace with the market leaders. Prospects for Oracle continue to look better, even in this tough market for tech, it could be argued Oracle is one of the better bets.
Last week, Oracle completed acquisition of Cerner Corp. The stock is still down roughly 20% for the year.
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Source: https://invezz.com/news/2022/06/13/oracle-up-10-on-q4-results-prospects-for-oracle-continue-to-look-better/