Oracle Highlights Zoom Video as Top Cloud Computing Customer @themotleyfool #stocks $ORCL $AMZN $ZM

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Database and enterprise software giant Oracle (NYSE:ORCL) reported results for the first quarter of fiscal year 2021 on Thursday, Sept. 10. The company posted modest increase in revenue and a 15% bottom-line jump, returning to growth after a 6% revenue dip in the fourth quarter.
Investors were quick to embrace Oracle’s report, driving share prices as much as 8% higher in the Friday session’s early trading.
Oracle’s first-quarter results by the numbers

Metric

Q1 2021

Q1 2020

Change

Analyst Consensus

Revenue

$9.37 billion

$9.22 billion

1.6%

$9.2 billion

GAAP net income (loss)

$2.25 billion

$2.14 billion

5.1%

N/A

Adjusted earnings (loss) per diluted share

$0.93

$0.81

15%

$0.86

Data source: Oracle. GAAP = generally accepted accounting principles.
Oracle beat Wall Street’s expectations across the board and followed up with second-quarter guidance that exceeded analysts’ current consensus estimate. Software license sales rose 9% year over year while support service revenue fell 8%.
How Oracle is winning cloud computing clients today
On the earnings call, Oracle chairman Larry Ellison noted that his company’s cloud computing services are turning heads in the market, thanks to industry-leading customer satisfaction ratings and a unique combination of offerings under one roof. In particular, Ellison likes Oracle’s positioning against sector leader Amazon (NASDAQ:AMZN) Web Services.
“Customers are picking Oracle cloud infrastructure and the Oracle autonomous …

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