Oracle has reported its earnings results today and it showed that the earnings per share of the company was $0.62 which missed the analysts’ estimates of $0.64 hence the lower revenue for the quarter by $0.02 per share. The company had total quarterly revenue of $8.60 billion, quite lower than the forecasted $8.78 billion.
The same quarter in 2013 showed that the company had $0.59 earnings per share, which means that this year’s kind of better than the last. Oracle’s revenue last year was 2.6% lower than 2014.
As Oracle Corp reports quarterly earnings that are below the estimates of analysts, the company was hurt by a 7.6% in revenues specific for its hardware systems amounting to $1.17 billion.
The net income of the company is $0.48 per share equivalent to $2.18 billion, which is below the earlier year’s $0.47 cents per share or $2.19 billion net income.
Oracle also declared recently that it will have quarterly dividend scheduled for 29th of October and shareholders of a record on October 8 will be entitled to a dividend of $0.12 per share representing an annualized $0.48 dividend, 1.16% of yield.
The company has been the subject of research reports recently and RBC Capital analysts provided a price target on the company’s shares between $40 and $46. MKM Partners on their end, initiated coverage on shares of the company and they put ‘neutral’ rating on the stock. Lastly, Barclay’s analysts increased their price target of Oracle stock between $47 and $50 in a research note on the 4th of September and they have now an ‘overweight’ rating on the stock. Oracle has a current consensus ‘Hold’ rating and a price target average of $43.10.
Oracle Corporation is by the way one of the world’s largest providers of enterprise software and computer hardware products and services. It also offers cloud services and software and hardware products for both public and private cloud suppliers.
Share this:
