Oracle ORCL reported fourth-quarter fiscal 2020 non-GAAP earnings of $1.20 per share, beating the Zacks Consensus Estimate by 5.26%. Further, the bottom line was up 3% from the year-ago quarter (up 5% in constant currency or cc).
However, non-GAAP revenues declined 6% (down 4% in cc) year over year to $10.441 billion, missing the Zacks Consensus Estimate by 1.64%.
Notably, shares of Oracle were down around 3% in the pre-market, on Jun 17, following bleak fiscal fourth-quarter top-line performance.
The company’s shares have declined 8% year to date, against the industry’s rally of 14.2%.
Top Line in Detail
Oracle reported total revenues (on a GAAP basis) of $10.44 billion, down 6% (down 4% in cc) year over year, primarily led by decline in license revenues.
Revenues by Offerings
Oracle’s top line benefited from the ongoing cloud-based momentum. Cloud services and license support revenues (66% of total revenues) in the reported