Oracle Corporation (NYSE:ORCL) shares are trading higher Friday after the company reported better-than-expected first-quarter results on Thursday after the market closed and raised its fiscal-year 2027 adjusted earnings per share guidance above analyst estimates.
- Oracle shares are powering higher. What’s driving ORCL stock higher?
Cloud Growth Powers Oracle’s Earnings Beat
Oracle reported adjusted earnings per share of $1.92, beating the consensus estimate of $1.74. In addition, the company reported revenue of $19.300 billion, beating the consensus estimate of $19.144 billion. Total revenue was up 30% year-over-year.
Total cloud revenue reached a record, up 62%, with cloud infrastructure (IaaS) revenue up 121% and cloud applications (SaaS) revenue up 10%. Remaining Performance Obligations grew $209 billion year-over-year to $664 billion.
Q2, FY27 Guidance
Oracle raised its fiscal-year 2027 adjusted earnings per share guidance from $8.05 to $8.10, versus the consensus estimate of $8.07. The company now expects fiscal-year 2027 revenue of more than $90.000 billion, versus the consensus estimate of $89.789 billion.
For the second quarter, Oracle sees adjusted earnings per share of $1.85 to $1.93, versus the consensus estimate of $1.89, and sales of $20.875 billion to $21.518 billion, versus the consensus estimate of $21.218 billion.
Oracle Shares Rush Higher
ORCL Price Action: At the time of publication, Oracle shares are trading 7.46% higher at $164.35, according to data from Benzinga Pro.
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