Oracle Corporation (ORCL)

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Oracle (ORCL) shares rise after-hours after topping earnings, revenue expectations
By: Investing.com | December 12, 2022

Oracle (NYSE:ORCL) shares have risen in extended trading Monday after the company reported its fiscal second-quarter earnings, topping analyst consensus expectations.

Oracle shares closed the regular session up 1.77%. It is currently up 2.95% after hours.

The technology firm posted adjusted earnings per share of $1.21 on revenue of $12.3 billion, which rose 25% in constant currency. Analysts expected earnings of $1.16 per share on revenue of $11.95B.

Oracle's cloud revenue in Q2 came in at $3.8B, up 48% in constant currency, while cloud infrastructure revenue was $1B, up 59% in constant currency.

The strengthening of the U.S. dollar had a significant impact on Oracle's results in the quarter. The company said that without the FX-related impact, Oracle's reported Q2 non-GAAP earnings per share would have been 9 cents higher.

"In Q2, Oracle's total revenue grew 25% in constant currency—exceeding the high end of our guidance by more than $200 million," said Oracle CEO, Safra Catz. "That strong overall revenue growth was powered by our infrastructure and applications cloud businesses that grew 59% and 45% respectively, in constant currency."

Oracle declared a quarterly cash dividend of $0.32 per share.

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