Revenues of $8.61 billion also lagged the Zacks Consensus Estimate of $8.72 billion. BTIG Research reissued a “buy” rating and set a $47.00 price objective on shares of Oracle Corp.in a research note on Monday, August 22nd.
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In other Oracle Corp. news, Director Naomi O. Seligman sold 25,000 shares of the firm’s stock in a transaction on Thursday, June 23rd. The insider owns 1,117,103,736 shares which have current market value of around $45644858653.CATZ SAFRA is another major inside shareholder in the company. The average forecast of sales for the year ending Oct 16 is $10.84B by 21 analysts. That’s a tall order.
On the books, Oracle’s cash, cash equivalents and marketable securities totaled $68.4 billion, up from $56.1 billion at the end of the previous fiscal year. Similarly, the company received some benefits to the top-line from its new acquisitions, though it is yet to extract their full potential, which when done, is likely to drive the similar cloud growth in the future too. The Company’s services business includes the remainder of the Company’s segments.
Oracle reported non-GAAP EPS of $0.55 – slightly lower than average estimates of $0.58 – and non-GAAP and GAAP total revenues of $8.613 billion and $8.595 billion, respectively. Because Oracle books overseas sales in foreign currencies, the strong USA dollar meant that cloud sales would have grown 61% had it been measured in constant currency.
The silver lining in ORCL’s results was 77% growth in cloud software-as-a-service and platform-as-a-service revenues to $798 million. That helped keep operating margins steady at 31 percent. Oracle’s management also affirmed its expectation regarding the operating margins which should increase in FY17 as compared to that of FY16.
Oracle Corporation (NYSE:ORCL) stock is now trading at about $40.86 and lots of rating firms seem to have a target price set on the stock.
Oracle said revenues for its fiscal first quarter of 2017 reached USD 8.6 billion, up 2 percent in United States dollars and advancing 3 percent in constant currency. Here is the GAAP revenue breakdown for all its businesses. The Redwood City, Calif. -based database and data center middleware giant is selling cloud services faster than it ever has, but its hardware business continues to fade alarmingly, and its traditional on-premises license renewals – once the entire mainstay of the entire company – also are moving into what may become a free fall.
“We believe this will be the second year in a row that Oracle has sold more SaaS and PaaS than any cloud services provider”, said Hurd.
“Our Generation2 IaaS delivers twice the compute, twice the memory, four times the storage and ten times more I/O at a 20% lower price than Amazon Web Services”, he said. Meanwhile, On-Premise Software revenue totaled $5.822 billion, with new software licenses contributing $1.03 billion and software license updates and product support pitching in with $4.792 billion.
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The Board of Directors also declared a quarterly cash dividend of 0.15 U.S. dollars per share of outstanding common stock.
