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Oracle (ORCL) Q4 Earnings Report 2023

Oracle Shares climbed as much as 5% in extended trading on Monday after the software vendor announced fiscal fourth-quarter results and quarterly revenue guidance that exceeded Wall Street’s expectations.

Here’s how the company did it:

  • Earning: $1.67 per share, adjusted, versus $1.58 per share, as expected by analysts, according to Refinitiv.
  • Income: $13.84 billion, according to Refinitiv, versus $13.74 billion as expected by analysts.

Oracle’s revenue rose 17% year-on-year in the quarter ended May 31, according to a statement, Net income reached $3.32 billion, or $1.19 per share, compared to $3.19 billion, or $1.16 per share, in the year-ago quarter.

CEO Safra Catz said on a conference call that she expects fiscal first-quarter adjusted earnings of $1.12 to $1.16 per share and 8% to 10% revenue growth. Analysts polled by Refinitiv had expected $1.14 in adjusted earnings per share on $12.34 billion in revenue, implying growth of 7.8%.

The company’s top source of revenue, cloud services and license support, jumped 23% to $9.37 billion. But revenue from cloud licenses and on-premises declined 15% to $2.15 billion.

Revenue from cloud infrastructure totaled $1.4 billion, up 76%, a sharp increase from 55% growth in the previous quarter. That part of Oracle is expanding rapidly Microsoft And Google But it is still very small compared to its rivals. Oracle’s gross margin at the unit will continue to expand, Katz said on the call.

Oracle president and technology chief Larry Ellison said the company will launch a generative artificial intelligence cloud service tied to a partnership with startup Coheir, which has agreed to use Oracle’s cloud infrastructure. Microsoft, which has a partnership with startup OpenAI, offers the Azure OpenAI service, which allows organizations to deploy large language models to take human input and generate human-like responses.

“This new service protects the privacy of our enterprise customers’ training data, enabling those customers to securely use their private data to train their own specialized large-language models,” Ellison said. Is.” Oracle has already started using the tool internally, he said.

During the quarter, Oracle Said Most of its cloud services were approved for use by US defense and intelligence agencies.

Excluding the after-hours move, Oracle shares have climbed about 43% so far this year, while the S&P 500 index is up about 13%.

The stock rose 6% in regular trading after analysts at Wolf Research upgraded the stock from hold to buy based on the company’s position in AI as well as improving financials, marking its best day in a year.