uploads/2018/06/technology-3068617_640.jpg

Here’s How Oracle Performed in Fiscal 2018 and Q4 2018

By

Updated

Oracle beat earnings and revenue estimates

Oracle (ORCL) reported its fiscal 2018 and fiscal fourth-quarter[1. fiscal Q4 2018 ended May 31] results on Tuesday, June 19. The tech company beat its 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. 

More From Market Realist