Oracle shares rose sharply Thursday, a day after the business software company reported quarterly earnings that beat Wall Street expectations. Even so, Oracle said that net income edged down slightly, hurt by flat revenue from new software licenses and cloud software subscriptions.
The company earned $2.55 billion, or 56 cents per share, compared with $2.58 billion, or 53 cents per share, in the same quarter a year ago. Excluding charges, the company posted an adjusted profit of 69 cents per share. Revenue rose 2 percent to $9.28 billion from $9.09 billion.
Analysts, on average, expected a profit of 67 cents per share on $9.18 billion in revenue, according to FactSet.
Revenue from new software licenses and cloud software subscriptions was flat at $2.38 billion, but rose 1 percent excluding the effects of currency exchange rates.
Total returns through Dec. 19
Source: FactSet Associated Press
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