- The stock price of Oracle Corporation (NYSE: ORCL) increased by over 13% pre-market today. This is why.
The stock price of Oracle Corporation (NYSE: ORCL) increased by over 13% pre-market today. Investors are responding positively to the company’s fourth-quarter results.
Oracle had reported a Q4 EPS of $1.54, which is $0.17 higher than analyst estimates of $1.37. And the revenue for the quarter was $11.84 billion compared to the consensus estimate of $11.68 billion.
“We continued to improve our top-line results again this quarter with total revenue growing 10% in constant currency. These consistent increases in our quarterly revenue growth rate typically have been driven by our market-leading Fusion and NetSuite cloud applications. But this Q4, we also experienced a major increase in demand in our infrastructure cloud business—which grew 39% in constant currency. We believe that this revenue growth spike indicates that our infrastructure business has now entered a hyper-growth phase. Couple a high growth rate in our cloud infrastructure business with the newly acquired Cerner applications business—and Oracle finds itself in position to deliver stellar revenue growth over the next several quarters.”
— Oracle CEO Safra Catz
“Cerner and Oracle together have all the technologies required to provide healthcare professionals with better information—and better information will fundamentally transform healthcare. Better information will lead to better patient outcomes, better public health policy, lower overall healthcare costs, and a better quality of life—not just in rich countries—but throughout the world. During the pandemic, an award-winning Oracle cloud system called v-safeSM collected over 150 million patient records in the United States. An Oracle cloud system also managed vaccine programs in Ghana, Tasmania and dozens of other states and countries. We partnered with the University of Oxford to develop and deploy the Global Pathogen Analysis System (GPAS) that identified variants of the COVID-19 virus wherever and whenever they first appeared. A few weeks ago, we turned on a system to help researchers study a promising new HIV vaccine. There are so many opportunities to use information technology to improve healthcare and save lives. We made a good beginning during the pandemic—and we fully comprehend the importance of what remains to be done.”
— Oracle Chairman and CTO Larry Ellison
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.