Oracle stocks rise as earnings, shooting revenue is narrower than Wall Street estimates

Oracle Corp. shares rose in the extended session Monday after the company's software company's quarterly results spoke top-level Wall Street estimates and forecast revenues roughly in line with analysts' consensus.


ORCL, -1.87%

shares increased 5.1% by hours, after a 1.9% decline to close the usual $ 45.73 session. By comparison, both Dow Jones Industrial Average

DJIA, -2.1[ads1]1%

and the S & P 500 Index

SPX, -2.08%

closed Monday down 2.1% while the technologically heavy Nasdaq Composite Index

COMP, -2.27%

fell 2.3%.

On Monday's income conference call, forecasted CEO Safra Catz adjusted earnings at 83 cents to 85 cents per share for the third quarter, while analysts expect 84 cents per share.

Catz also said that Oracle repurchased 203 million shares during the quarter for $ 10 billion, for an average $ 49.26 per share. When the quarter started, the shares traded at $ 47.68 and achieved a high level of $ 52.11 in the quarter on September 26.

Catz said that Oracle reduced the number of outstanding shares by 602 million, or more than 12% over the last 12 months.

The company reported a net income of NOK 2.33 billion last year, or 61 cents per share, compared to NOK 2.21 billion, or 52 cents a year ago. Adjusted earnings were 80 cents per share. Of analysts investigated by FactSet, Oracle was expected to add an adjusted earnings of 78 cents per share, while Oracle had forecast 78 cents to 80 cents per share.

Revenues decreased to $ 9.56 billion from $ 9.59 billion in the quarter; Wall Street had expected $ 9.52 billion from Oracle, according to analysts asked by FactSet.

Cloud services and licensing revenue rose to $ 6.64 billion from $ 6.46 billion a year ago, while analysts surveyed by FactSet were looking for $ 6.63 billion. Cloud license and license revenues on terms went down to $ 1.22 billion from $ 1.33 billion a year ago, while analysts are looking for $ 1.19 billion.

Cloud growth has been the biggest concern for investors in the past year, which has seen Oracle's stock price trading 9.4%. The S & P 500 index has fallen by 2.8% during that time.

Of the 37 analysts covering Oracle, 17 buy or overweight, 19 have team marks and one has a seller rating with an average price of 52.83 dollars. 19659015]

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