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Oracle's profits released after the market closed on Thursday surpassed Wall Street's estimates, the turnover respected. Oracle stocks advanced before retreating after normal business hours.
Oracle (ORCL) announced adjusted earnings of 87 cents per share for a $ 9.6 billion business. Wall Street expects an Oracle profit of 84 cents on a $ 9.6 billion business figure for the third quarter of its fiscal year ended Feb. 28.
Revenues increased 1% over the same period last year, continuing a weak single-digit growth chain. In constant currency, the Oracle business figure increases by 3%.
The Oracle stock was initially up 1% today after trading hours on the stock market. Equities then retreated and recently shed about 0.2%, nearly 52.95.
Oracle is changing its product portfolio. We are moving from a traditional licensing and maintenance model to a subscription-based company focused on cloud computing. At the same time, he is trying to keep his profit margins under pressure.
Total cloud services revenue and licenses reached $ 7.9 billion, unchanged from the previous year period.
Oracle also declared a quarterly cash dividend of 24-cents per share, reflecting a 26% increase over the current quarterly dividend of 19 cents.
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