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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.

The DocuSign Inc application for download in the Apple App Store on a smartphone is arranged on Thursday, April 1, 2021 in Dobbs Ferry, New York, US.

DocuSign, e-signature provider, Reported decline in income and revenue for the financial quarter ended April 30, along with the announcement of some C-suite appointments and new service offerings. The company’s shares were up as much as 12% after a few hours.

Here’s how the company did it:

  • Earning: 72 cents per share, adjusted, compared with 56 cents per share expected by analysts, according to Refinitiv.
  • Income: $661 million versus the $642 million expected by analysts, according to Refinitiv.

In the first quarter of DocuSign’s 2024 fiscal year, revenue grew 12% year over year to $661 million, and subscription revenue grew by the same percentage to $639 million. In the “professional services and other” category, revenue increased 14% from the prior year period to $22 million.

DocuSign reported net income of $539,000, or zero cents per share, compared with a net loss of $27.4 million, or 14 cents per share, a year earlier.

The company announced some new products and services, including WebForms, a way for organizations to create, customize, and manage their own forms, including exporting and analyzing collected data.

DocuSign reported 1.4 million paying users and over 1 billion users as of April 30, emphasizing its international focus on investors with service in more than 180 countries and 17% international revenue growth year over year.

For the fiscal second quarter, DocuSign expects revenue of $675 million to $679 million, compared with analysts’ estimates of $667 million, according to Refinitiv. For the full fiscal year, the company forecast revenue of $2.71 billion to $2.73 billion, compared with analysts’ estimates of $2.7 billion.

DocuSign also made a handful of strategic C-suite appointments last quarter, including the appointment of a new chief financial officer, Blake Grayson, who previously served as CFO. business desk and in other finance roles Amazon.

The company also selected a new Chief Product Officer in Dmitry Krakowski – previously of CP4, Google, SAP and Yahoo – and a new Chief Information Security Officer in Kurt Sauer, who previously held the same role. working day.

Gitlab  Shares soared 31% on Tuesday after the code-deployment software provider reported a loss that was less than analysts expected, while also reporting an improved full-year forecast.

The stock enjoyed its best day since GitLab’s 2021 Nasdaq debut. That’s still down about 65% from its peak in November that year, the month tech stocks hit record highs. After that, investors started pulling money out of riskier assets due to concerns about slowing growth and rising interest rates.

GitLab said revenue for the first quarter of the fiscal year ended April 30 jumped 45% to $126.9 million from $87.4 million a year earlier. The company reported an adjusted loss of 6 cents per share. statement, Analysts polled by Refinitiv had expected sales of $117.8 million and an adjusted loss of 14 cents per share.

GitLab’s net loss widened to $52.9 million from $26.6 million in the year-ago quarter.

For the 2024 fiscal year, GitLab sees an adjusted loss per share of 14 cents to 18 cents on revenue of $541 million to $543 million. Analysts had expected an adjusted loss of 26 cents per share and sales of $532.6 million. In March, GitLab called for an adjusted per-share loss of 24 cents to 29 cents on revenue of $529 million to $533 million.

During the quarter, GitLab raised Its premium tier costs from $19 to $29 per user per month.

“To date, customer churn is unchanged for premium customers who renewed in April,” Brian Robbins, head of finance at GitLab, said on Monday’s call with analysts. He said average annual recurring revenue per customer “grew in line with our expectations.”

GitLab CEO Sid Sijbrandij said more revenue could come from the generative artificial intelligence add-on, which would cost $9 per user per month on annual billing.

Sijbrandij, who co-founded the company a decade ago, had some encouraging personal news to share. Three months after announcing that he had chosen to undergo treatment for osteosarcoma, Sijbrandij said on the call that “there is no sign of detectable disease,” adding that he was focused on the company’s future and “his position as CEO and chairman.” Excited to retain the role”.

There are still challenges in business. Robbins said sales cycles took longer than usual during the quarter and customers reduced the number of seats they purchased.

But the financial data prompted several analysts to raise their price targets on GitLab stock.

“The quarter was stronger than most expected, and the company was able to maintain a very positive and conservative outlook — in contrast to the previous quarter,” Piper Sandler analysts Rob Owens and Ethan Weeks wrote in a note to clients.

Analysts have a Buy rating on the company’s stock and raised their price target from $50 to $52. GitLab shares closed at $46.44.