Oracle $ORCL Stock Rips 6% In After-hours On Beats

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ORCL stock rose 6% in after-hours trading on December 9, 2021, after the company reported both earnings and revenue beats on its Q2 2022 financials.

Oracle Announces Fiscal 2022 Second Quarter Financial Results

AUSTIN, Texas, Dec. 9, 2021 /PRNewswire/ — Oracle Corporation (NYSE: ORCL) today announced fiscal 2022 Q2 results. Total quarterly revenues were up 6% year-over-year to $10.4 billion. Cloud services and license support revenues were up 6% to $7.6 billion. Cloud license and on-premise license revenues were up 13% to $1.2 billion. Oracle reported Q2 adjusted EPS of $1.21 versus the consensus estimate of $1.11. The company reported Q2 revenue of $10.4B versus the consensus estimate of $10.21B.

“Oracle’s Q2 Non-GAAP earnings per share was up 14% to $1.21—beating guidance by $0.10,” said Oracle CEO, Safra Catz. “Constant currency revenue beat guidance by $200 million. These strong results are being driven by the 22% growth of our infrastructure and applications cloud businesses which are approaching $11 billion in annualized revenue. We now have 8,500 Fusion ERP customers with revenue growing 35%, 28,400 NetSuite ERP customers with revenue growing 29%, and our Gen2 infrastructure businesses are growing even faster—and accelerating.”

“Oracle’s Autonomous Database and new MySQL Database with HeatWave are the world’s two highest-performance databases,” said Oracle Chairman and CTO, Larry Ellison. “Because of their extreme high-performance, both products present huge growth opportunities for our cloud infrastructure business. Oracle database on-premise customers are choosing our Autonomous Database as they move to the public cloud and our unique [email protected] service. Amazon Aurora customers are discovering that moving to MySQL with HeatWave can increase their performance by more than ten-times—with a corresponding reduction in cost. These two databases will sustain Oracle’s database market and technology leadership for years to come.”

The board of directors increased the authorization for share repurchases by $10 billion. The board of directors also declared a quarterly cash dividend of $0.32 per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on January 7, 2022, with a payment date of January 19, 2022.

VIDEO Is Oracle one of the BEST TECH STOCKS TO BUY NOW? | ORCL Stock Analysis

Everything Money gave their opinion on ORCL stock back on October 19, 2021:

Is Oracle one of the BEST TECH STOCKS TO BUY NOW? | ORCL Stock Analysis

ORCL Stock Technical Analysis

Orcl Stock

When comparing the yearly performance of all stocks, we notice that ORCL is one of the better-performing stocks in the market, outperforming 82% of all stocks. We also observe that the gains produced by ORCL over the past year are nicely spread over this period. ORCL is part of the Software industry. There are 335 other stocks in this industry. ORCL outperforms 82% of them. There is a support zone ranging from 86.17 to 88.72. This zone is formed by a combination of multiple trend lines in multiple time frames. There is a resistance zone ranging from 90.07 to 93.70. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. Although the technical rating is only medium, ORCL does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 88.72, a stop order could be placed below this zone. Click here to sign up for email alerts on when ORCL stock is an even better entry.

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