Oracle Corp. Japan shares rise sharply after quarterly profit climbs on cloud business
By Kosaku Narioka
Oracle Corp. Japan shares (JP:4716) rose sharply Wednesday morning after first-quarter net profit grew on the strength of the cloud business.
The shares were recently 8.6% higher at 10,935 yen after rising as much as 12% earlier.
The Japanese unit of U.S. technology company Oracle Corp. said Tuesday after market close that net profit increased 14% from a year earlier to Y12.88 billion ($86.4 million) for the quarter ended Aug. 31.
First-quarter revenue grew 12% to Y57.37 billion. Operating profit from its cloud and license business rose 14% to Y18.57 billion.
Oracle Corp. Japan kept its earnings projections for the fiscal year ending May 2024. It continues to expect full-year earnings per share to be between Y406.00 and Y418.00, compared with Y100.61 for the first quarter.
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
09-26-23 2141ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks