Oracle: results beat estimates - steps up share buybacks

(CercleFinance.com) - Oracle has reported better-than-expected Q3 2019-2020 results on Thursday evening, having increased its share buyback program as a result.


The share of the US enterprise software publisher, which at yesterday's close had fallen by 28% over the past month, rose by more than 10% in early trading on Friday.

Driven by cloud services (cloud computing), the group's revenues rose by 2% over the past quarter, to 9.8 billion dollars, a performance that slightly beat the consensus.

Net income declined slightly to 2.57 billion dollars (vs. 2.75 billion dollars a year ago), but at 97 cents per share excluding non-recurrent items, this was one cent above the consensus.

Other good news is that the California group's share buyback program will be increased to 15 billion dollars.


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