This article was originally published by GuruFocus on March 25, 2014
By Sarfaraz A. Khan, Research assistant: Gohar Yousuf
Oracle (ORCL)'s latest earnings release had two big positives; 25% growth in cloud computing and a turnaround in hardware business with 6.6% growth. However, Oracle’s total revenue growth continues to remain below 5% level as the company faces tough competition in its key areas.
In its quarterly results announced on March 18, the company’s revenue increased 3.9% from the same quarter last year to $9.31 billion while net income rose 2.4% to $2.57 billion, or $0.56 per share. This translated into adjusted earnings of $0.68 per share. On the other hand, analysts were expecting earnings of $0.70 per share from revenues of $9.36 billion, as per data compiled by Bloomberg.
In the earnings release, the biggest positive was .. read the full article at GuruFocus