Oracle Corp. (NASDAQ: ORCL) is out with its first quarter earnings report. The company's adjusted earnings rose 11% to $0.53 per share while GAAP earnings rose 15% to $0.41 EPS, and revenue was light at $8.2 billion. Thomson Reuters had estimates of $0.53 for the adjusted earnings and $8.42 bilion in revenue. Oracle said that currency exchange rates took off $0.03 on its adjusted earnings.
New software licenses and cloud software subscriptions sales grew 11% on a constant currency basis and operating margin rose to 44% in the quarter. Operating cash flow increased to a record high of $5.7 billion in the first quarter.
The company said that it is off to a good start for the year. Unfortunately, Oracle holds back its guidance until the conference call and that makes this an incomplete report.
Oracle's stock closed down 1.5% at $32.29 against a 52-week range of $24.91 to $33.81 and shares are trading down about 1% just under the $32.00 handle in after-hours trading.
JON C. OGG
Filed under: 24/7 Wall St. Wire, Earnings, Software, Technology Companies