The first quarter of 2017 brought extremely positive and surprising figures for Oracle, with results exceeding expectations in terms of revenue and profit forecasts. These achievements prove how effective the transition of applications to Cloud Service has been for the company's growth.
The figures analyzed, obtained after the acquisition of NetSuite last July, also highlight the potential of the company's new cloud approach. With this agreement, Oracle has gained even more strength to take on other major players, such as Workday and Salesforce.
Looking at the figures, the company's shares rose by around 3.3%, reaching US$ 44.45 in trading in the second half of March. While licensing results fell by 16%, sales of cloud-based software and services rose by almost 62%, totaling almost US$ 1.19 billion.
A previous analysis by Reuters assumed that Oracle would achieve average revenue of US$9.26 billion, with net income of around US$0.62 per share. However, the results exceeded all expectations: with total net income reaching $2.24 billion ($0.69 per share), the company not only improved on the previous year's performance, but also achieved revenue of $9.27 billion, with earnings of $0.69 per share.
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Source: Reuters – http://bit.ly/2o0BweU
