Oracle reported better-than-expected earnings and revenue for the fiscal fourth quarter on Wednesday while also raising its profit forecast for the year.
The stock dropped 5% in extended trading as the company plans to raise more money to finance its AI buildout
Here’s how the company did in comparison with LSEG consensus: – Earnings per share: $2.11 adjusted vs. $1.96 expected – Revenue: $19.18 billion vs. $19.10 billion expected Revenue increased 21% year over year in the quarter, which ended on May 31, according to a statement. Net income rose to $4.22 billion, or $1.45 per share, from $3.43 billion, or $1.19 per share, a year ago. Adjusted earnings exclude impact of stock-based compensation.
The company maintained its previous revenue guidance of $90 billion for the 2027 fiscal year, while lifting its forecast of adjusted earnings per share to $8.05. Analysts were projecting $8.01 per share and $88.90 billion in revenue. Oracle said it foresees raising $40 billion through debt and equity financing, including a $20 billion share sale it announced earlier.