Oracle Soars After Q4 Earnings Beat

Oracle Corporation ORCL shares are soaring after reporting a fourth-quarter earnings beat.

Adjusted earnings came in at $1.16 per share, beating estimates by 9 cents. Sales came in at $11.136 billion, beating estimates by $186 millin.

"Our Fusion ERP and HCM cloud applications suite revenues grew 32% in FY19," said Oracle CEO Mark Hurd. "Our NetSuite ERP cloud applications revenues also grew 32% this year. These strong results extend Oracle's already commanding lead in worldwide Cloud ERP. Our cloud applications businesses are growing faster than our competitors. That said, let me call your attention to the following approved statement from industry analyst IDC."

Highlights

• NetSuite ERP Cloud revenue up 32%
• Fusion ERP and HCM Revenue up 32%
• Total quarterly revenue were up 1% in USD

Oracle shares were trading up 6.3 percent to $55.86 in Wednesday's after-hours session.

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