Oracle: the “cloud” strategy boosts quarterly accounts











Photo credit © Reuters


(Boursier.com) — In the aftermath of the general stock market meltdown on Wall Street, the title of the company management software publisher Oracle jumped 9.5% Tuesday in session to $ 70.12, welcoming the publication of quarterly accounts better than expected, Monday evening after the close.

The American group based in Austin, Texas, has shown that its strategy of migrating its offer to the “cloud” is bearing fruit, posting profits and revenues above analysts’ expectations for its fourth fiscal quarter ended May 31.

However, net profit fell 21% to $3.2 billion from $4 billion a year earlier. Earnings per share, adjusted for non-recurring items, came out at $1.54, while the FactSet consensus was for $1.37.

Quarterly sales increased 5% (and 10% at constant exchange rates) for total $11.8 billion, against $11.6 billion expected by Wall Street. Total cloud-related sales jumped 19% to $2.9 billion (+22% at constant exchange rates).

“We have seen a surge in demand for our cloud infrastructure offering, which jumped 39% at constant currency,” Group Chief Executive Safra Catz said in a statement. “We believe this upward spurt of growth shows that our cloud infrastructure business has entered a phase of hyper-growth,” she added.


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