Oracle up Nearly 4% Following Q4 Earnings

Oracle Corporation (NASDAQ: ORCL) is trading higher on the session following its Q4 earnings announcement yesterday. The company reported an EPS of $0.82 vs $0.78 estimates and revenues of $10.9 billion vs $10.89 billion estimates. Oracle also announced it sees adjusted EPS of $0.51-0.55 vs. $0.53 estimates.

Oracle Chief Executive Officer, Larry Ellison said, "The development of Oracle Cloud is strategic to increasing the size and profitability of Oracle's software business. Our Oracle Cloud SaaS business is nearly at a billion dollar revenue run rate, the same size as our engineered systems hardware business. The combination of engineered systems and the Oracle Cloud will drive Oracle's growth in FY 2013."

Oracle is currently trading at $28.11, a gain of $0.99 or 3.65%.

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