The report sent Oracle shares down about 6% in late trading initially, but the stock recouped most of its losses as the forecast emerged during the company’s forecast. CEO Safra Catz remarked that the company “delivered over 7% constant currency revenue growth – our highest quarterly organic revenue growth rate since we began our transition to the cloud.” Added Catz, Also: Oracle beats Q2 results with cloud revenue up 22% Chairman and CTO Larry Ellison said the company, during the quarter, “completed development of the multi-cloud version of our MySQL HeatWave open-source database.” Added Ellison. Revenue in the three months ended in February rose 4%, year over year, to $10.5 billion, yielding a net profit of $1.13 a share. Analysts had been modeling $10.5 billion and $1.18 per share. Also: Larry Ellison: Oracle’s cloud ERP biz will be “a lot bigger” than $20B in 5 years Oracle explained that it lost money on its investments in two startup businesses: Among key metrics of the business, Oracle said its cloud computing software revenue, comprising its Infrastructure as a Service business and its Software as a Service business, rose 24% to $2.8 billion. As it often does in earnings, Oracle touted customer gains in its Fusion ERP and NetSuite ERP programs. Fusion’s customer count rose 33%, and NetSuite’s, 27%. Oracle’s Catz customarily offers the company’s forward outlook on the conference call with analysts. That call will begin at 5 pm, Eastern time, and you can catch a webcast of it from the company’s investor relations Web site. Update: On the company’s conference call following the report, Catz forecast revenue for the current quarter, the company sees revenue of $11.9 billion to $12.13 billion, and EPS in a range of 1.40 cents to $1.40, excluding some costs. That compares to consensus for $11.77 billion and a $1.39 profit per share. Catz told analysts the company expects to see revenue rise by “double digits” next year.
