Oracle Corp Chair and co-founder Larry Ellison speaks on Sunday, October 1, 2017 during the Oracle Openworld 2017 conference in San Francisco, California, US.
David Paul Morris | Bloomberg | Getty images
Oracle On Monday, quarterly results were released, leaving behind the projections of analysts, but the company offered fast comments on its Cloud Infrastructure segment.
Here is described how Oracle did compared to LSEG consensus:
- earnings per share: $ 1.47 adjusted vs $ 1.49 expected
- Income: $ 14.13 billion vs $ 14.39 billion is expected
Revenue increased from $ 13.3 billion to 6% in the same period last year. A year ago, net income rose 22% to $ 2.94 billion, or $ 1.02 per share, $ 2.4 billion, or 85 cents per share, a year ago. Revenue in Oracle’s cloud services business rose 10% to $ 11.01 billion from a year ago, accounting for 78% of the total sales.
The company’s Cloud Infrastructure segment, which helps businesses transfer the workload from its own data centers, is booming due to the demand for computing power that can support artificial intelligence projects. Oracle said that the revenue in its cloud infrastructure unit increased by 49% to $ 2.7 billion from a year ago.
“We are scheduled to double this calendar year to double the capacity of our data center,” Oracle President Larry Ellison said in a release. “Customer demand is at record level.”
In January, President Donald Trump announced a plan to invest billions of dollars in the AI Infrastructure in the US in collaboration with Oracle, Openai and SoftBank. Alison said during the announcement at the White House that the first initiative of the joint venture, called Stargate, will have to build data centers in Texas – an attempt that is already running.
ORACLE’s cloud and on-rivalry license business contributed $ 1.1 billion to revenue during the quarter, which was 10% year after year.
Oracle also said that it is increasing its quarterly dividend by 50 cents per share by 40 cents.
After Monday’s closure, the stock is down to about 11% years.
Oracle will conduct his quarterly calls with investors where he will share his view on ET at 5 pm.
Watch: Oracle remembers quarterly results, increases the dividend by 25%
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