Warning: exif_imagetype(https://payspacemagazine.com/wp-content/uploads/2024/09/oracle-earnings-beat-estimates.jpg): failed to open stream: Connection refused in /home/deploy/sites/payspacemagazine.com/wp-includes/functions.php on line 3314

Warning: file_get_contents(https://payspacemagazine.com/wp-content/uploads/2024/09/oracle-earnings-beat-estimates.jpg): failed to open stream: Connection refused in /home/deploy/sites/payspacemagazine.com/wp-includes/functions.php on line 3336

Warning: exif_imagetype(https://payspacemagazine.com/wp-content/uploads/2024/09/oracle-earnings-beat-estimates.jpg): failed to open stream: Connection refused in /home/deploy/sites/payspacemagazine.com/wp-includes/functions.php on line 3314

Warning: file_get_contents(https://payspacemagazine.com/wp-content/uploads/2024/09/oracle-earnings-beat-estimates.jpg): failed to open stream: Connection refused in /home/deploy/sites/payspacemagazine.com/wp-includes/functions.php on line 3336
News

Oracle Earnings Beat Estimates

During the extended trading, the value of Oracle shares, a provider of database software, showed an increase of 9%, against the background of earnings data from this company for the first quarter of fiscal year 2025, which exceeded Wall Street’s preliminary expectations.

Oracle Earnings Beat Estimates

Information on the financial results of the mentioned firm for the specified period was published on Monday, September 9.

Oracle’s revenue for the first quarter of fiscal year 2025 was fixed at $13.31 billion. This indicator showed an increase of 8% compared to the result a year ago. It is worth noting that the LSEG consensus forecast provided that the company’s revenue for the mentioned period would be fixed at $13.23 billion.

Oracle’s net income for the first quarter of fiscal year 2025 was $2.93 billion. This figure was $2.42 billion a year earlier.

It is worth noting that since the beginning of the current year, the value of the company’s shares has grown about 34%. Also, it is worth noting that over the same period, the S&P 500 index increased by 15%.

Oracle chief executive officer Safra Catz said during an earnings call that the company expects revenue growth of 7-9% in the current fiscal quarter. It is worth noting that Wall Street analysts predicted that the corresponding figure for the mentioned period would increase by 8.8%.

On Monday, the company announced that in the first quarter of fiscal year 2025, its cloud services and license support business generated revenue of $10.52 billion. This indicator increased by 10% year-on-year.

Oracle’s cloud and on-premises license segment generated revenue of $870 million in the first quarter of fiscal year 2025. In this case, an increase of 7% year-on-year was recorded.

The company’s cloud infrastructure business generated revenue of $2.2 billion in the first quarter of fiscal year 2025. This indicator increased by 45% year-on-year.

Also, on Monday, Oracle released a separate statement stating the company’s intention to start cooperating with Amazon Web Services to enable its database services on dedicated hardware.

As we have reported earlier, Oracle Presents AI Capabilities for Finance and Supply Chain.

Serhii Mikhailov

2828 Posts 0 Comments

Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.