Oracle ORCL has once again outperformed earnings estimates after today's closing bell, posting 87 cents per share versus a Zacks consensus of 84 cents, on $9.62 billion in quarterly revenues that beat the $9.59 billion expected. The company has not missed an earnings estimate since Q1 of fiscal 2017.
Standing out initially is $6.6 billion in cloud-based revenues for the quarter, a bit ahead of where analysts where anticipating. Oracle stock has risen 19.5% year to date ahead of this news; shares are actually ticking down slightly on modestly lowered guidance for next quarter.
Adobe Systems ADBE also topped expectations on its fiscal Q1 2019 earnings and sales results, with $1.71 per share on $2.60 billion surpassing the $1.61 per share and $2.54 billion analysts were looking for. Next quarter earnings per share guidance of $1.77 per share is well below the Zacks consensus $1.89, however. Yet shares continue inching upward in late trading, after surging roughly 30% from Christmas Eve 2018.
Broadcom AVGO, maker of radio frequency chips for smartphones, put up mixed quarterly report after the bell: earnings of $5.55 per share topped the $5.29 expected, but revenues of $5.79 billion were shy of the $5.82 billion in our consensus estimate.
The company cited the slowdown in China as being a factor, but because this has already been factored into fiscal full-year estimates, the company is retaining earnings guidance for 2020. Shares of AVGO are up 4.7% in late trading, putting the stock back up to levels seen a month ago.
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