Oracle Shares Surge 8% on Q4 Earnings Beat
2022.06.14 00:01
Oracle (ORCL) Shares Surge 8% on Q4 Earnings Beat
By Davit Kirakosyan
Oracle (NYSE:ORCL) shares were trading more than 8% after-hours following the company’s Q4 earnings results, with EPS of $1.54 coming in better than the consensus estimate of $1.37. Revenue grew 5% year-over-year in USD (10% in constant currency) to $11.84 billion, beating the consensus estimate of $11.68 billion.
Cloud services and license support revenues grew 3% in USD (7% in constant currency) to $7.6 billion, and Cloud license and on-premise license revenues grew 18% in USD (25% in constant currency) to $2.5 billion.
“We continued to improve our top line results again this quarter with total revenue growing 10% in constant currency,” said Oracle CEO, Safra Catz. “These consistent increases in our quarterly revenue growth rate typically have been driven by our market leading Fusion and NetSuite cloud applications. But this Q4, we also experienced a major increase in demand in our infrastructure cloud business—which grew 39% in constant currency. We believe that this revenue growth spike indicates that our infrastructure business has now entered a hyper-growth phase. Couple a high growth rate in our cloud infrastructure business with the newly acquired Cerner (NASDAQ:CERN) applications business—and Oracle finds itself in position to deliver stellar revenue growth over the next several quarters.”
