Oracle Seen Ending String Of EPS Declines Amid Huge Cloud Transition

June 15, 2016 Off By David

Grazed from Investors. Author: Brian Deagon.

Amid its major shift to cloud computing, longtime database leader Oracle (ORCL) is set to report quarterly earnings after the market close Thursday. Analysts polled by Thomson Reuters expect Oracle to report a 4% year-over-year increase in earnings per share minus items, to 81 cents, for its fiscal Q4 ended on or near May 31.

That would reverse four straight quarters of EPS declines. Analyst expect revenue to fall 2%, to $10.47 billion, the fifth straight quarter of declines. Oracle is transitions to selling more of its business software on demand via the internet cloud, a huge change for a company built by selling billions of dollars of traditional, on-premise software that clients license for the long term…

Oracle stock was sitting flat, near 39, in morning trading in the stock market today. The stock is down 7% since hitting an 11-month high of 42 on March 21. It’s formed a cup-with-handle base with a 42.10 buy point…

Read more from the source @ http://www.investors.com/news/technology/oracle-earnings-due-amid-major-cloud-computing-transition/