The company reported EPS of $0.55 on revenue of $8.6 billion thus missing Street estimates of $0.58 a share on revenue of $8.7 billion for the first quarter. Cloud revenues from Saas and PaaS recorded 77 percent jump on a year-over-year basis to $798 million. Similarly, IaaS revenue advanced 59 percent in American dollar terms.
The following are the ratings given by different brokerages after the first quarter results:
- D.A. Davidson maintains a Buy rating.
- CLSA maintains an Underperform rating with an unchanged $42 price target.
- Jefferies reiterated a Buy rating with a target price of $51.
- Barclays retained its Overweight rating with a price objective of $48. The brokerage termed Q1 as a "typical Oracle quarter."
- UBS maintains its Buy rating and $44 as the price target on clear cloud progress.
At time of publication, Oracle was down 4.41 percent on the day at $39.06.
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