Oracle Corp. (ORCL) stock soars during after-hours, followed by financial results

Oracle Corp. (NASDAQ: ORCL) stock fell by 0.19% at last close whereas the ORCL stock price soared by 10.40% in the after-hours trading. Oracle Cloud provides integrated application suites as well as secure, self-contained infrastructure.


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ORCL stock’ Financial Earnings

Oracle Corp. has reported its financial results for the second quarter of fiscal 2022.

The company has generated total revenue of $10.4 billion which marks an increase of 6% y-o-y. The revenue gathered through cloud services and license support rose by 6% to $7.6 billion. Moreover, the cloud license and on-premise license revenues surged by 13% which was $1.2 billion. The company generated short-term deferred revenue as $7.9 billion. And the operating cash flow of ORCL was $10.3 billion for the twelve months.

The payment of a judgment connected to a ten-year-old dispute concerning former Chief executive Mark Hurd’s employment had a negative impact on Oracle’s Q2 GAAP results. This payment led to an $824 million GAAP operating loss in Q2 and a $0.46 loss per share. Non-GAAP operating income increased by 6% to $4.9 billion in the second quarter, and profits per share increased by 14% to $1.21.

Safra Catz, CEO of Oracle stated that the company’s Non-GAAP earnings per share for the Q2 of fiscal 2022 moved up by 14% to $1.21 hence surpassing the expectations by $0.10.

Oracle Chairman and CTO, Larry Ellison stated that,

Globally the two best working databases are Oracle’s Autonomous Database and MySQL’s new HeatWave Database. Both solutions give tremendous growth prospects for their cloud infrastructure industry due to their exceptional high performance. As they migrate to the public cloud, Oracle database on-premise clients are opting for their Autonomous Database and their distinctive Cloud@Customer service. Customers of Amazon Aurora are learning that migrating to MySQL with HeatWave can boost speed by more than tenfold while lowering costs. Oracle’s database market and technology supremacy will be sustained for years to come attributable to these two databases.

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