Oracle beats Q4 estimates on solid cloud services growth

Oracle's cloud services and license support revenues increased eight percent to $6.77 billion.

Sarika Ameerichetty of Oracle: Interest in integrating business apps with Amazon's Alexa is growing At Oracle Media Day, a live demo showed how an employee can use an Amazon Echo device integrated with Oracle's HR application to ask Alexa how many vacation hours they have available, to request time off on a certain day, or even find out why there was extra money in their paycheck this period.

Video: Sarika Ameerichetty of Oracle: Interest in integrating business apps with Amazon's Alexa is growing

Oracle reported better-than-expected fourth quarter financial results on Tuesday, giving its stock price a bump after hours.

The company's non-GAAP net income for Q4 2018 was $3.41 billion, with non-GAAP earnings per share coming to 99 cents. Total revenues rang up to $10.9 billion. A year prior, Oracle delivered non-GAAP earnings of 89 cents a share on revenue of $10.9 billion.

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Wall Street was looking for non-GAAP earnings of 94 cents a share on revenue of $11.19 billion.

Elsewhere on the balance sheet, Oracle's cloud services and license support revenues increased eight percent to $6.77 billion. Meanwhile, cloud license and on-premise license revenue decreased five percent to $2.4 billion, hardware revenue was flat at $1.12 billion, and services revenue was $883 million, down one percent.

For the year, Oracle reported earnings of $3.12 per share on revenue of $39.8 billion. Analysts expected $3.08 per share on revenue of $39.8 billion.

In a statement, Oracle co-CEO Safra Catz said the company expects revenue growth over the next fiscal year to drive double-digit non-GAAP earnings per share growth

Oracle didn't provide exact guidance for its new fiscal year in Tuesday's release.

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"We had a great fourth quarter with total revenues more than $200 million above our constant currency forecast," said Oracle's other 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."