Here’s Why Brighter Days Are Ahead for Oracle
Oracle's (NYSE: ORCL) stock recently rebounded sharply from its 52-week low after its third-quarter numbers topped Wall Street's expectations. Its revenue rose 2% annually (3% in constant currency terms) to $9.8 billion, beating estimates by $50 million and marking the company's second straight quarter of accelerating revenue growth.
Its non-GAAP net income stayed nearly flat at $3.2 billion (up 1% in constant currency), but buybacks boosted its earnings 11% to $0.97 per share, beating estimates by a penny. Those growth rates seem anemic, but brighter days could be ahead for Oracle -- even as it faces sluggish enterprise spending amid the novel coronavirus crisis.
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Source Fool.com
