Article Hero

Oracle lost on revenue

1592383515.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
The last quarter was sub-par for Oracle.

If, for some tech companies, the pandemic had a benefic effect and the financial results for the past quarter were better than expected, like Microsoft or Amazon,  the same cannot be said about others, such as Oracle. The multinational technology corporation posted yesterday their Q1 financial results. 

The company reported an EPS of 99 cents, with a net income of $3.11 billion. The revenue declined to $10.44 billion from $11.14 billion the same time last year. FactSet expected an EPS of $1.15 with $10.61 revenue.  

The revenue from cloud services and license support increased by 1% to $6.8 billion. Hardware revenue lost 9% to $901 million. The revenue for services had the most significant drop – 11% to $735 million. 

Oracle stocks gained 2.5% during regular trading hours, but dropped more than 4% after-hours.  USA30 went up by 2%. Overall, the share price gained more than 3%, while TECH100 gained 10%, and USA500 lost 3%. 

Find out how markets develop by reading the latest financial news!

Sources: marketwatch.com, barrons.com


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

Share this article

How did you find this article?

Awful
Ok
Great
Awesome

Read More

Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.