GoKawiilThe logo of the software and hardware manufacturer Oracle can be seen at the company's German headquarters in Munich on Sept. 25, 2023.
Oracle shares jumped 7% in extended trading on Thursday after the software vendor issued stronger-than-expected quarterly results.
Here's how the company performed relative to LSEG consensus:
Earnings per share: $1.92 adjusted vs. $1.74 expected
$1.92 adjusted vs. $1.74 expected Revenue: $19.35 billion vs. $19.14 billion expected
Oracle's revenue grew almost 30% year over year in the fiscal first quarter, which ended on Aug. 31, according to a statement. Net income of $4.68 billion, or $1.56 per share, was up from $2.93 billion, or $1.01 per share, a year ago. Adjusted earnings exclude stock-based compensation expense.
For the fiscal second quarter, Oracle called for $1.85 to $1.93 in adjusted earnings per share, with revenue growth between 30% and 34%. Analysts surveyed by LSEG were looking for $1.89 in adjusted earnings per share, with $21.20 billion in revenue, which would indicate 32% growth.
For the 2027 fiscal year, Oracle now sees $8.10 in adjusted earnings per share on at least $90 billion in revenue. The LSEG consensus called for $8.07 earnings per share and $89.76 billion in revenue. Guidance on capital spending for the full year is unchanged, Hilary Maxson, Oracle's finance chief, said in a briefing with reporters.
Much of Oracle's expansion is tied to data center growth, as the company tries to become a bigger player in the artificial intelligence boom.
"Nothing that we know today would lead us to believe that New Mexico or any of our other sites are delayed relative to the schedules that we included, for example, in our fiscal '27 outlook," Maxson said in the briefing.
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