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Investing.com – Oracle (NYSE:ORCL) reported on Thursday second-quarter results that beat analysts’ forecasts and revenue that topped expectations led by strength in its cloud businesses.
Oracle shares lost 0.5% in after-hours trade following the report.
Oracle announced earnings per share of $1.06 on revenue of $9.80B. Analysts polled by Investing.com anticipated EPS of $0.9971 on revenue of $9.76B.
The bottom line was boosted by strong revenue growth in the company’s Fusion and NetSuite Cloud ERP applications businesses of 33% and 21%, respectively. “These two strategic cloud applications businesses are major contributors to Oracle’s increased operating earnings and consistent earnings per share growth,” the company said.
Cloud services and license support revenues were up 4%, to $7.1 billion year-on-year, while cloud license and on-premise license revenues were down 3% to $1.1 billion.
Operating margin grew to 47%, topping consensus of 44.9%.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
