Oracle (ORCL) Tops Q2 EPS by 6c

December 10, 2020 4:02 PM EST

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Oracle (NYSE: ORCL) reported Q2 EPS of $1.06, $0.06 better than the analyst estimate of $1.00. Revenue for the quarter came in at $9.8 billion versus the consensus estimate of $9.79 billion.

"Our highly profitable multi-billion dollar Fusion and NetSuite Cloud ERP applications businesses grew revenue 33% and 21% respectively in Q2," said Oracle CEO, Safra Catz. "These two strategic cloud applications businesses are major contributors to Oracle's increased operating earnings and consistent earnings per share growth. We expect this rapid market share and revenue growth trend to continue as both Gartner and IDC rank Oracle's ERP suite number one in the cloud."

"Oracle's Gen2 Cloud Infrastructure is adding customers and growing revenue at a rate well in excess of 100% per year," said Oracle Chairman and CTO, Larry Ellison. "Demand for our Gen2 Cloud Infrastructure is exceeding our plan and we are opening new datacenters as fast as we can. Oracle opened 13 additional regional datacenters in 2020 to bring our total to 29 regional datacenters worldwide, more than AWS."

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

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Earnings, Hot Earnings

Related Entities

Larry Ellison, Earnings