Oracle Corp met Wall Street targets for first-quarter revenue on Monday as demand for its cloud services stayed strong and its acquisition of healthcare IT firm Cerner started to pay off.
An exterior view of the Oracle Field Office at Wilson Boulevard in Arlington, Virginia, U.S., October 18, 2019. REUTERS/Tom Brennermet Wall Street targets for first-quarter revenue on Monday as demand for its cloud services stayed strong and its acquisition of healthcare IT firm Cerner started to pay off.
With hybrid work gaining traction worldwide, Oracle has been looking to bolster its cloud offerings and close the gap to rivals Microsoft Azure and Amazon Web Services.Register now for FREE unlimited access to Reuters.comCerner contributed $1.4 billion in the quarter, months after Oracle bought it in a deal that unlocked troves of data from one of the biggest healthcare IT firms in the United States.
The enterprise software maker said the strong greenback had a "significant impact" on its results in the quarter and without that, its adjusted earnings would have been 8 cents higher. It reported non-GAAP profit of $1.03 per share. Oracle's net income fell to $1.55 billion, or 56 cents per share, in the quarter ended Aug. 31, from $2.46 billion, or 86 cents per share, a year earlier.
Total revenue rose 17.7% to $11.45 billion, in line with analysts' estimates, according to Refinitiv data.Reporting by Akash Sriram and Eva Mathews in Bengaluru; Editing by Devika Syamnath
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street’s top analysts are bullish on these stocks amid an uncertain economyTipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Oracle & Microsoft.
Read more »
Concertgoer says Motley Crue drummer asked crowd to expose genitals at SF show in Oracle ParkA concertgoer is speaking out against the actions of rock band Motley Crue after he says drummer Tommy Lee encouraged audience members to expose their genitals on camera.
Read more »
3 Stocks To Watch This Week: Oracle, Adobe Systems, Twitter | Investing.comMarket Overview Analysis by Haris Anwar/Investing.com covering: S&P 500, Microsoft Corporation, Oracle Corporation, iShares Core S&P 500 ETF. Read Haris Anwar/Investing.com's latest article on Investing.com
Read more »
Motley Crue drummer asked crowd to expose genitals at CA show in Oracle Park, concertgoer saysMotley Cru drummer Tommy Lee is being accused of asking a crowd to expose themselves at a recent San Francisco, California tour stop.
Read more »
Oracle offers its MySQL HeatWave database and analytics on Amazon’s cloudOracle Corp. has started to offer MySQL HeatWave, its cloud database service for transactions, analytics and machine learning, on Amazon’s AWS cloud, allowing customers whose data is already parked there to use the service, the U.S. company said on Monday.
Read more »
Twitter whistleblower testimony, consumer price index, Oracle earnings top week aheadFOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days, including some big matters for Twitter.
Read more »