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Oracle Corp. shares fell 1.5% in late trading Thursday after the software giant posted better-than-expected earnings for its fiscal second quarter but came up a bit short on revenue.
The company posted net income of $2.3 billion, or 69 cents a share, compared with $2.3 billion, or 61 cents, in the year-earlier period. After adjusting for stock-based compensation and other expenses, Oracle’s ORCL, +0.28% earnings per share climbed to 90 cents from 80 cents a year prior. Analysts tracked by FactSet had been modeling 89 cents in adjusted EPS.
Revenue for the November quarter rose to $9.61 billion from $9.57 billion, coming in a bit below the FactSet consensus of $9.65 billion. The company disclosed that it generated cloud-services and license-support revenue of $6.8 billion. Revenue from cloud licenses and on-premise licenses totalled $1.1 billion.
“We had another strong quarter in our Fusion and NetSuite cloud applications businesses with Fusion ERP revenues growing 37% and NetSuite ERP revenues growing 29%,” Chief Executive Safra Catz said in a statement.
The company declared a quarterly cash dividend of 24 cents a share, which will be payable on Jan. 23 to stockholders of record as of the close of business on Jan. 9.
Oracle shares have risen 25% so far this year, as the S&P 500 SPX, +0.86% has gained 27%.
