Oracle (ORCL) reported quarterly results late Monday that matched revenue estimates and beat on earnings. Oracle stock fell.
The database software company reported adjusted earnings of $1.03 a share on revenue of $9.7 billion. Analysts expected Oracle to report earnings of 97 cents on revenue of $9.7 billion. The results were for its fiscal first quarter ended Aug. 31. Revenue climbed 4% from the year-ago period.
Oracle stock fell 2%, near 87 during after-hours trading on the stock market today.
Over the past several years, Oracle has transitioned from an antiquated business of on-premises database software licensing and maintenance to a subscription-based software model that taps the benefits of cloud computing.
Oracle stock has an IBD Composite Rating of 92 and ranks No. 2 in the database software group behind Dropbox. (DBX). Oracle’s relative strength line is still near highs amid sideways price action since July.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
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