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 all over the world, economic development organizations from every corner of the nation and other parties working to facilitate foreign direct investment (FDI) in the United States.
Eric Thayer | Bloomberg | Getty Images
Oracle reported revenue that met expectations on Monday, while earnings came in below analysts’ estimates.
Revenue climbed 18% in the quarter from a year earlier, thanks to a contribution from recently acquired software maker Cerner.
Here’s how the company did:
- Earnings: $1.03 per share, adjusted, vs. $1.07 per share as expected by analysts, according to Refinitiv.
- Revenue: $11.45 billion, vs. $11.45 billion as expected by analysts, according to Refinitiv.
Oracle received a $1.4 billion contribution from Cerner, after the $28 billion acquisition closed during the quarter.
Net income declined to $1.55 billion from $2.46 billion in the year-ago quarter.
Oracle’s cloud services and license support category generated $8.42 billion in revenue, up 14% and above the StreetAccount consensus of $8.27 billion.
Oracle’s applications and infrastructure cloud businesses now represent over 30% of total revenue, CEO Safra Catz said in a statement. Revenue from cloud infrastructure totaled $900 million in the quarter, up 52%.
In addition to completing the Cerner deal, Oracle announced the availability of its database software through Microsoft’s Azure public cloud, but running on Oracle’s own cloud infrastructure.
Excluding the after-hours move, Oracle shares are down almost 12% so far in 2022, while the S&P 500 is down around 14% over the same time period.
Oracle executives will discuss the results with analysts and issue guidance on a conference call starting at 5 p.m. ET.
This story is developing. Please check back for updates.