Source: Depositphotos
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The cloud and data management service provider posted lower than expected earnings that led to a 5% drop in its share price in extended trading hours on Tuesday.
Here is how Oracle fared throughout its fiscal fourth quarter of 2020:
– Earnings of $1.20 per share versus $1.15 expected
– $10.44 billion in revenue versus $10.65 billion expected (down 6% y/y)
– $6.85 billion generated by Oracle’s cloud services and license support (up 1% y/y)
“As the quarter progressed, we saw a dropoff in deals, especially in the industries most affected by the pandemic. As countries begin reopening their economies, many of these discussions have already resumed. . . . And while some customers have deferred projects, we’re also rapidly building new pipelines with customers that are moving their on-premise workloads to the cloud.”
Safra Catz, CEO
According to Catz, an increasing number of companies are starting to rediscover the benefits of cloud services – a market segment traditionally dominated by Amazon’s and Microsoft’s cloud offerings. In its earnings briefing, Oracle announced its new point-of-sale hardware aimed at retailers, as well as a new cloud business offering provided in partnership with Zoom and 8×8.
The company declined to provide guidance for its fiscal 2021. That being said, Catz expects to see accelerated revenue growth. So far, Oracle’s shares have seen a gradual price increase of close to 3% since the start of this year.
Upcoming reports
See the full list of upcoming earnings reports for 22 – 26 June in the tables below.
Monday, 22 June 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| United Kingdom | Mitchells & Butlers Plc | Half year 2020 |
| United Kingdom | Berkeley Group Holdings Plc | Full year 2019 |
| United Kingdom | Monks Investment Trust Plc | Full year 2019 |
Wednesday, 24 June 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | J. C. Penney Company Inc | First quarter of 2020 |
| USA | Paychex Inc | Fourth quarter of 2020 |
| United Kingdom | Stagecoach Group Plc | Full year 2020 |
Thursday, 25 June 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| USA | Rite Aid Corp | First quarter 2021 |
| United Kingdom | Mitie Group Plc | Full year 2020 |
| United Kingdom | Royal Mail Plc | Full year 2020 |
| United Kingdom | Auto Trader Group Plc | Full year 2020 |
| Canada | BlackBerry Ltd | First quarter 2021 |
Friday, 26 June 2020
| Country of origin | Company name | Fiscal period |
|---|---|---|
| United Kingdom | Marston's Plc | Half year 2020 |
| USA | Nike Inc | Fourth quarter of 2020 |
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