Jun 19, 2019

Stocks | Stock Rallies | Oracle stock rallies as earnings top Wall Street view

Wallace Witkowski

Oracle Corp. shares rallied in the extended session Wednesday after the database giant topped Wall Street estimates for the quarter.
Oracle ORCL, -0.42%  shares surged as much as 7% after hours and were last up 4%, following a 0.4% decline to close the regular session at $52.68.
The company reported fiscal fourth-quarter net income of $3.74 billion, or $1.07 a share, compared with $3.28 billion, or 79 cents a share, in the year-ago period. Adjusted earnings were $1.19 a share.
Revenue rose to $11.14 billion from $11.01 billion in the year-ago quarter.
Analysts surveyed by FactSet had forecast adjusted earnings of $1.07 a share on revenue of $10.93 billion.
Oracle posted cloud services and license support revenue of $6.8 billion, while analysts expected $6.76 billion. Cloud license and on-premise license revenues were $2.5 billion. compared with the $2.32 billion Street expectation.

Source: MarketWatch

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