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The shares of Oracle Corp. fell during the broad session on Thursday after the company's software company announced its outlook, after again exceeding the estimates of Wall Street in a wave of share buybacks.
Oracle shares
ORCL, -0.02%
, which had rebounded by about 1% just hours before the announcement of the outlook, were down 3%, after a decline of less than 0.1% from the close of the regular session to $ 53.05, a penny less than the highest in its history. . In the last 12 months, Oracle shares grew 1.4%, compared to 2.2% for the S & P 500 index.
SPX, -0.09%
and a 1.8% rise in the Nasdaq Composite Index, very technology-driven
COMP -0.16%
.
During the teleconference, Co-CEO Safra Catz said expect an adverse wind of 3 cents per share, generating an expected adjusted profit of $ 1.05 to $ 1.09 per share, on revenues down 2% to $ 11.03 billion. to 11.26 billion dollars.
Analysts surveyed by FactSet expect a profit of 1.05 USD per share for a turnover of 11.14 billion USD in the fourth quarter.
In the third quarter, Oracle announced a net profit of $ 2.75 billion, or 76 cents per share, against a loss of $ 4.05 billion, or 98 cents per share, over the same period of time. Previous exercice. Adjusted earnings were 87 cents per share, down from 83 cents per share in the same quarter of last year, mainly due to share buybacks: at the end of the third quarter, the company had $ 3.62 billion shares outstanding, compared to 4.12 billion the previous year. -ago quarter.
Oracle spent about $ 10 billion to buy back shares for the third consecutive quarter, raising $ 29.89 billion in redemptions over the past nine months. During the same nine-month period last year, Oracle spent less than $ 7 billion on stock repurchases.
Previously: Oracle bought a profit with share buybacks
Of the 33 analysts polled by FactSet, Oracle is expected to average an adjusted profit of 84 cents per share. Oracle had forecast between 83 and 85 cents a share.
Revenues dropped to $ 9.61 billion from $ 9.68 billion in the same quarter of the previous year. Wall Street expects a turnover of $ 9.59 billion, according to 29 analysts surveyed by FactSet.
The Oracle-generated business figure for cloud services and license support was $ 6.66 billion, while analysts expected $ 6.64 billion. Cloud licensing and on-site licensing revenues reached $ 1.25 billion, while analysts expected $ 1.24 billion.
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