Tech stock under pressure: Oracle Corporation (NYSE: ORCL)

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Oracle Corporation (NYSE: ORCL) stock fell over 3.1% on June 17th, 2020 (as of 8:09 am GMT-4; Source: Google finance) after the company posted mixed results for the fourth quarter of FY 20. The company has reported a 17% fall in the earnings for the fourth quarter of 2020 on the back of higher interest expenses and lower non-operating income. In the fourth quarter of FY 20, the company has delivered 2% YoY decrease in the Non-GAAP operating income to $5.1 billion, and posted the non-GAAP operating margin was 49%. The company has generated Operating cash flow of $13.1 billion during the trailing twelve months.

ORCL in the fourth quarter of FY 20 has reported the adjusted earnings per share of $1.20, beating the analysts’ estimates for the adjusted earnings per share of $1.14, according to the Zacks Consensus Estimate. The company had reported 6 percent fall in the adjusted revenue to $10.44 billion in the fourth quarter of FY 20. Cloud services and license support revenues were up 1% YoY and 3% in constant currency to $6.8 billion. Cloud license and on-premise license revenues were $2.0 billion. For fiscal 2020, the company has reported the total revenues of $39.1 billion, which is down 1% YoY and flat in constant currency. Cloud services and license support revenues were $27.4 billion, which reflects an increase of 3% YoY and 4% in constant currency. Cloud license and on-premise license revenues were $5.1 billion.

Additionally, the company has declared a quarterly cash dividend of $0.24 per share of outstanding common stock. The company will pay this dividend to the stockholders of record as of the close of business on July 15, 2020, with a payment date of July 28, 2020.

Meanwhile, in the fourth quarter of FY 20, the company had launched a vastly improved version of the Exadata Cloud@Customer service. Exadata Cloud@Customer now enables the existing on-premise database customers to run the Oracle Autonomous Database in their own datacenter, previously, the Oracle Autonomous Database was only available in Oracle’s Gen2 Public Cloud.  Enabling all the on-premise database customers to upgrade and run Oracle’s latest and best database technology in their own data center is projected to dramatically increase the rate of adoption of the Oracle Autonomous Database, especially by the company’s largest customers including banks and governments that are not currently planning to move their largest and most critical systems to a public cloud.

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