AP NEWS

Oracle: Fiscal 2Q Earnings Snapshot

December 17, 2018

REDWOOD CITY, Calif. (AP) _ Oracle Corp. (ORCL) on Monday reported fiscal second-quarter net income of $2.33 billion.

On a per-share basis, the Redwood City, California-based company said it had net income of 61 cents. Earnings, adjusted for one-time gains and costs, came to 80 cents per share.

The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The software maker posted revenue of $9.56 billion in the period. Its adjusted revenue was $9.57 billion, also exceeding Street forecasts. Twelve analysts surveyed by Zacks expected $9.53 billion.

Oracle shares have fallen 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has declined nearly 5 percent. In the final minutes of trading on Monday, shares hit $45.77, a decline of 5 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORCL at https://www.zacks.com/ap/ORCL

AP RADIO
Update hourly