Oracle beats by $0.05, reports revs in-line; sees FY19 EPS up double digits, above estimates (46.27 -0.25)
* Reports Q4 (May) earnings of $0.99 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of $0.94; revenues rose 2.9% year/year to $11.26 bln vs the $11.17 bln Capital IQ Consensus. Q4 Cloud Services and License Support revenues were up 8% to $6.8 billion. Q4 Cloud License and On-Premise License revenues were down 5% to $2.5 billion.
* "Last year, I forecast double-digit non-GAAP earnings per share growth for FY18 and we delivered 14% growth this year, largely driven by strong growth in our cloud businesses," said Oracle CEO, Safra Catz. "Looking ahead to FY19, I expect revenue growth [consensus +2.7%] will enable us to deliver double-digit non-GAAP earnings per share growth once again." -- FY19 EPS consensus +7.4% to $3.35.
* "We had a great fourth quarter with total revenues more than $200 million above our constant currency forecast," said Oracle CEO, Mark Hurd. "Our strategic Fusion ERP and HCM SaaS cloud applications suite revenues grew over 50% in the fourth quarter, and we expect continued strong growth from our Fusion SaaS suites throughout FY19."
* "Some of our largest customers have now begun the process of moving their on-premise Oracle databases to the Oracle Cloud," said Oracle Chairman and CTO, Larry Ellison. "For example, AT&T is moving thousands of databases and tens of thousands of terabytes of data into the Oracle Cloud. We think that these large scale migrations of Oracle database to the cloud will drive our PaaS and IaaS businesses throughout FY19."