Oracle CEO Safra Catz speaks during the SelectUSA Investment Summit in Oxon Hill, Maryland on June 19, 2017. The SelectUSA Investment Summit brings together companies from around the world, economic development organizations from all corners of the country and other parties working to facilitate foreign direct investment investment (FDI) in the United States.
Eric Thayer | Bloomberg | Getty Images
Soothsayer reported sales that met expectations on Monday, while earnings and a quarterly outlook were below analysts’ estimates.
Revenue rose 18% in the quarter from a year earlier, thanks to a contribution from recently acquired software maker Cerner.
How the company fared:
- Profit: $1.03 per share, adjusted, vs. $1.07 per share in line with analysts’ expectations, according to Refinitiv.
- income: $11.45 billion versus the $11.45 billion analysts were expecting, according to Refinitiv.
Oracle received a $1.4 billion contribution from Cerner following the $28 billion acquisition CLOSED during the quarter.
Net income fell to $1.55 billion from $2.46 billion in the year-ago quarter. Oracle said it would have seen 8 cents higher in adjusted earnings per share but for unfavorable exchange rates.
Oracle’s Cloud Services and Licensing Support category generated $8.42 billion in revenue, up 14% and above the StreetAccount consensus of $8.27 billion.
Oracle’s cloud applications and infrastructure now account for more than 30% of total revenue, CEO Safra Catz said in a statement. Cloud infrastructure revenue totaled $900 million in the quarter, up 52%.
For guidance, Oracle said it expects adjusted earnings per share of $1.16 to $1.20 and 15% to 17% revenue growth in the fiscal second quarter. Analysts polled by Refinitiv had expected $1.27 per share on $12.17 billion in revenue, which would represent nearly 18% growth.
Catz said it expects exchange rates to have a 5% to 6% negative impact on revenue and a hit to earnings per share of up to 7 cents per share in the fiscal second quarter.
Excluding the after-hours move, Oracle shares are down nearly 12% so far in 2022, while the S&P 500 is down about 14% over the same time period.
Oracle executives will discuss the results with analysts and provide guidance on a conference call beginning at 5:00 PM ET.
This story is evolving. Please check for updates.