Oracle (NYSE:ORCL)reported revenue that met expectations on Monday, while earnings and quarterly guidance came in below analysts’ estimates.
Revenue climbed 18% in the quarter from a year earlier, thanks to a contribution from recently acquired software maker Cerner.
Earnings came in at $1.03 per share, adjusted, vs. $1.07 per share as expected by analysts. Revenue posted at $11.45 billion, in line with estimates.
Revenue growth in the quarter ended Aug. 31 accelerated from the 5% it posted in the prior quarter, according to a statement.
Oracle received a $1.4 billion contribution from Cerner after the $28 billion acquisition closed during the quarter.
Net income declined to $1.55 billion from $2.46 billion in the year-earlier period. Oracle said it would have seen eight cents more adjusted earnings per share if it were not for unfavorable foreign exchange rates.
Oracle’s cloud services and license-support category generated $8.42 billion in revenue, up 14% and above the StreetAccount consensus of $8.27 billion.
Oracle’s applications and infrastructure cloud businesses now represent over 30% of total revenue, CEO Safra Catz said in a statement. Quarterly revenue from cloud infrastructure jumped 52% to $900 million.
In addition to completing the Cerner deal, Oracle announced the availability of its database software through Microsoft’s (NASDAQ:MSFT) Azure public cloud which runs on Oracle’s own cloud infrastructure.
ORCL shares opened Tuesday up 28 cents to $77.36.
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