Oracle (ORCL) Tops Q1 EPS by 2c

September 14, 2017 4:01 PM EDT

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Oracle (NYSE: ORCL) reported Q1 EPS of $0.62, $0.02 better than the analyst estimate of $0.60. Revenue for the quarter came in at $9.21 billion versus the consensus estimate of $9.03 billion.

  • Q1 FY18 Cloud Revenues Up 51% to $1.5 Billion

"The sustained hyper-growth in our multi-billion dollar cloud business continues to drive Oracle's overall revenue and earnings higher and higher," said Oracle CEO, Safra Catz. "In Q1, total revenues were up 7%, GAAP EPS was up 19%, and non-GAAP EPS was up 12%. Oracle is off to a very, very strong start in FY18."

"With SaaS revenue up 62%, our cloud applications business continues to grow more than twice as fast as Salesforce.com," said Oracle CEO, Mark Hurd. "ERP is our largest and most important cloud applications business. We now have about 5,000 Fusion ERP customers plus 12,000 NetSuite ERP customers in the Oracle Cloud. That's 30 times more ERP customers than Workday."

"In a couple of weeks, we will announce the world's first fully autonomous database cloud service," said Oracle Chairman and CTO, Larry Ellison. "Based on machine learning, the latest version of Oracle is a totally automated "self-driving" system that does not require human beings to manage or tune the database. Using AI to eliminate most sources of human error enables Oracle to offer database SLA's that guarantee 99.995% reliability while charging much less than AWS."

For earnings history and earnings-related data on Oracle (ORCL) click here.



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