Oracle Revenues Just Shy of Expectations, Earnings Top Forecasts

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Oracle said revenues fell just shy of expectations in its fiscal second quarter while earnings barely topped expectations.

Revenue came in a $9,04 billion in the three months that ended on Nov. 30, topping last year’s 9 billion but missing forecasts compiled by Capital IQ for $9.11 billion, Oracle reported late Thursday. Earnings were reported at $0.61 a share, down from $0.63 during the same quarter last year but topping expectations for $0.60 a share. Diluted earnings of $0.48 a share were in line with forecasts.

The company said during a conference call that the effect of a stronger US dollar and devaluation in Egypt’s currency hurt earnings. Without the impact of the US dollar strengthening compared to foreign currencies and the unforeseen Egyptian currency exchange loss, Oracle said both its GAAP and non-GAAP earnings would have been 2 cents higher.

Still, revenue from the company’s cloud business continue to grow. Total cloud revenue came in at $1.1 billion, led by software-as-a-service and platform-as-a-service, whose revenues totaled $878 million, up 81% year-over-year, the company said.

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