Oracle shares were trading high more than 8% on Monday after the database software company issued fiscal Q4 results that exceeded estimates.
Here’s the lookout, how the company did:
- Earnings: EPS of $1.54 adjusted, vs. $1.37 as expected by analysts.
- Revenue: Revenue grew 5% year-over-year to $11.84 billion vs $11.66 billion, according to Refinitiv.
“We continued to improve our top-line results again this quarter with total revenue growing 10% in constant currency. 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 applications business—and Oracle finds itself in a position to deliver stellar revenue growth over the next several quarters,” said Oracle CEO, Safra Catz.