Oracle released a report on Monday with fourth-quarter results that beat analysts. The revenue indicator exceeded forecasts.
The company announced earnings per share of $1.54, with earnings of $11.84B. Analysts interviewed Investing.com , it was assumed in the forecasts that earnings per share would be $1.37, and total income would be $11.62B
Oracle shares rose 7.91% and were trading at $69.14 after the market closed, according to the report.
This year, the value of Oracle shares, falling by 26%, performed worse than the average according to the S&P 500 index, falling 21% since the beginning of the year.
Oracle follows the general trend of companies in the Information Technology sector this month
On May 25, NVIDIA reported its first quarterly report of $1.36, profit was $8.29B, compared with forecasts of earnings per share of $1.3 with total revenues of $8.12B
Broadcom’s earnings beat analysts’ expectations on May 26 in the second quarter, quarterly earnings per share of $9.07 on total earnings of $8.1B Analysts Investing.com previously, it was predicted that earnings per share would be $8.71 with a total income of $7.91B
Oracle also announced a quarterly cash dividend of 32 cents per share on Monday. In an interview with MarketWatch, Daniel Newman of Futurum Research agreed that the most remarkable of all the indicators in the income statement is the growth of the cloud infrastructure business.
The real story here is an impressive 39 percent growth in the cloud infrastructure business, bringing Oracle’s growth rate closer to market leaders. Oracle’s prospects still look better, even in this tough technology market, it can be argued that Oracle is one of the best bets