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Tech Earnings Beat After Hours: ORCL, ADBE, AVGO

Mark Vickery

A burst of earnings report activity has hit the tape after Thursday's closing bell, existing on something of an island between calendar Q3 and Q4 reports. These are companies whose fiscal calendars fall on different months and represent differing quarters, even among themselves.

Oracle ORCL) has outpaced estimates on its bottom line in the company's fiscal Q2 2020 report: 90 cents per share is 2 cents higher than the Zacks consensus and up more than 10% year over year. However, revenues in the quarter of $9.62 billion was a tad beneath expectations. Cloud revenues came in at $6.8 billion for the quarter, On-Premise Licenses bringing in $1.3 billion and Services revenue at $741 million. The Enterprise business was a little weaker than expected, which may explain why shares are dipping 2% in late trading. Oracle shares had been up 25% year to date.

Adobe Inc. (ADBE) beat expectations on both its top and bottom lines for its fiscal Q4 2019, with $2.29 per share up by 3 cents from estimates on quarterly sales of $2.99 billion, which beat the $2.97 billion analysts were looking for, as well as posting a new all-time high in quarterly revenues. Digital Media rose 22% year over year to $2.08 billion. Cash Flow from Operations came in at $1.38 billion -- also a new record. Shares of Adobe are in in the after-market to the tune of 3%.

Sticking with the broader tech theme. Broadcom (AVGO) also surpassed expectations in its Q4 2019 with $5.39 per share, also a 3-cent beat from the Zacks consensus, on $5.78 billion in sales -- up from the 45.75 billion anticipated and +6% year over year. Broadcom also raised its dividend 23% to $3.25 per share, and the stock is up marginally at this hour in late trading. The company has not missed on earnings since the recalibration of stock-based compensation, back in the company's Q2 of 2016.

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