5 Stocks Drawing Attention Post Quarterly Results

2. Oracle Corporation (NYSE:ORCL)

Number of Hedge Fund Holders: 56

Shares of Oracle Corporation (NYSE:ORCL) jumped over 14 percent in the pre-market trading session on Friday, December 10, 2021, after announcing better-than-expected profit and sales for its fiscal second quarter.

Oracle Corporation (NYSE:ORCL) earned $1.21 per share on an adjusted basis, beating the consensus forecast of $1.11 per share. The Texas-based tech giant had posted adjusted earnings of $1.06 per share in the comparable period of 2020.

Revenue for the quarter rose six percent versus last year to $10.36 billion, ahead of analysts’ average estimate of $10.2 billion. Oracle Corporation (NYSE:ORCL) said that revenue from the cloud services and license support segment increased 6 percent on a year-over-year basis to $7.6 billion. In comparison, revenue from the cloud license and on-premise license segment jumped 13 percent to $1.2 billion in the quarter.

Looking forward, Oracle Corporation (NYSE:ORCL) expects adjusted earnings in the range of $1.14 – $1.18 for its fiscal third quarter. Moreover, revenue for the same period is expected to grow between 3 – 5 percent.

Speaking on the results, CEO Safra Catz said:

“These strong results are being driven by the 22% growth of our infrastructure and applications cloud businesses which are approaching $11 billion in annualized revenue. We now have 8,500 Fusion ERP customers with revenue growing 35%, 28,400 NetSuite ERP customers with revenue growing 29%, and our Gen2 infrastructure businesses are growing even faster—and accelerating.”