Oracle (ORCL) Tops Q2 EPS by 2c

December 14, 2017 4:00 PM EST

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Oracle (NYSE: ORCL) reported Q2 EPS of $0.70, $0.02 better than the analyst estimate of $0.68. Revenue for the quarter came in at $9.63 billion versus the consensus estimate of $9.57 billion.

"Overall cloud revenue growth of 44% drove our quarterly revenue and earnings higher," said Oracle CEO, Safra Catz. "With non-GAAP Cloud SaaS Applications growth of 49% leading the way, Oracle delivered 14% non-GAAP earnings per share growth and 6% overall revenue growth. Our success in the quarter was based on the increasing scale and the gathering momentum in our cloud business. I expect the business to continue to grow and strengthen over the coming quarters."

"Our Fusion ERP and Fusion HCM SaaS applications suite revenues grew 65% in the quarter," said Oracle CEO, Mark Hurd. "We are now the clear market leader in enterprise back-office SaaS applications with over 5,000 Fusion customers. And we expect to extend our lead by selling around $2 billion in new enterprise SaaS application cloud subscriptions over the coming four quarters. That's more new SaaS sales than any of our competitors."

"Oracle will soon deliver the world's first autonomous "self-driving" database," said Oracle CTO, Larry Ellison. "The new artificially intelligent Oracle database is fully automated and requires no human labor for administration. If a security vulnerability is detected, the database immediately patches itself while running. No other system can do anything like this. Best of all, we guarantee the price of running the Oracle Autonomous Database in the Oracle Cloud is less than half the cost of running a database in the Amazon Cloud."

Oracle sees Q3 EPS in constant currency of $0.68 to $0.70 vs consensus of $0.72 and revenue up 2% to 4%.

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



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