Oracle beat earnings and revenue estimates
Oracle’s fiscal fourth-quarter revenues rose 3.3% YoY (year-over-year) to reach ~$11.3 billion, beating Wall Street’s estimate of ~$11.2 billion. The software giant’s fiscal 2018 revenues climbed 6.0% YoY to reach $39.8 billion—its fastest growth since 2011.
Oracle reported net income of $3.4 billion. Excluding certain items, the company reported EPS of $0.99, topping analysts’ EPS estimates of $0.94.
Oracle’s shift to the cloud
Like other large software companies, Oracle has been shifting its focus to the cloud. In the fiscal fourth quarter, Oracle combined its revenues from cloud services and license support to generate revenues of $6.8 billion, up 8.0% YoY.
When Oracle reported its fiscal third-quarter results in March, it provided a complete breakdown of its cloud revenues. These revenues surged YoY and included SaaS, IaaS, and PaaS.