Technology

Oracle (NYSE:ORCL) reported fiscal Q1 non-GAAP earnings  of $1.19 per diluted share, up from $1.03 a year earlier. Analysts polled by Capital IQ expected $1.15. Revenue for the quarter ended Aug. 31 was $12.45 billion, up from $11.45 billion a year earlier. Analysts surveyed by Capital IQ expected $12.47 billion. The company retained its quarterly dividend at $0.40 per share, payable Oct. 12 to shareholders of record on Oct. 26.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target at $130, on P/E of 21.7x our CY 24 EPS estimate of $5.99, above historical but below peers. We hold our FY 24 (Mar.) EPS at $5.54 and adjust FY 25 to $6.29 from $6.56. ORCL posts Aug-Q EPS of $1.19 vs. $1.03, beating the $1.15 consensus. Sales rose 9%, near expectations, as cloud services and license support growth (+13%) more than offset declines in cloud/on-premise licensing (-10%) and hardware (-6%). We are encouraged by cloud services contribution, up 30% and now 37% of revenue, as we see significant scale potential from generative AI (over $4B of signed contract for AI training capacity; doubling in 3 months). Cloud infrastructure grew 66% while cloud application (SaaS) rose 17%, with NetSuite and Fusion bright