Oracle (ORCL) shares surge after-hours following earnings report

NYSE: ORCL | Oracle Corporation  News, Ratings, and Charts

ORCL – Oracle shares rise after beating expectations.

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Oracle Corporation  Oracle Corporation (ORCL - Get Rating) 0.38% shares are soaring after reporting a fourth-quarter earnings beat.

Adjusted earnings came in at $1.16 per share, beating estimates by 9 cents. Sales came in at $11.136 billion, beating estimates by $186 millin.

“Our Fusion ERP and HCM cloud applications suite revenues grew 32% in FY19,” said Oracle CEO Mark Hurd. “Our NetSuite ERP cloud applications revenues also grew 32% this year. These strong results extend Oracle’s already commanding lead in worldwide Cloud ERP. Our cloud applications businesses are growing faster than our competitors. That said, let me call your attention to the following approved statement from industry analyst IDC.

Highlights

  • NetSuite ERP Cloud revenue up 32%
  • Fusion ERP and HCM Revenue up 32%
  • Total quarterly revenue were up 1% in USD

Oracle shares were trading up 6.3 percent to $55.86 in Wednesday’s after-hours session.


Oracle Corporation (ORCL - Get Rating) shares rose $2.32 (+4.40%) in after-hours trading Wednesday. Year-to-date, Oracle Corporation (ORCL - Get Rating) has gained 17.66%, versus a 17.78% rise in the benchmark S&P 500 index during the same period.


This article is brought to you courtesy of Benzinga .

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