Oracle (ORCL) earnings Q2 2021

Safra Catz, co-chief executive officer of Oracle Corp., speaks during the SelectUSA Investment Summit in Oxon Hill, Maryland, U.S., on Monday, June 19, 2017. The SelectUSA Investment Summit brings together companies from all over the world, economic development organizations from every corner of the nation and other parties working to facilitate foreign direct investment (FDI) in the United States.Eric Thayer | Bloomberg | Getty ImagesOracle shares moved as much as 2% lower in extended trading on Thursday after the company reported fiscal second-quarter earnings.Here’s how the company did:Earnings: $1.06 per share, adjusted, vs. $1.00 per share as expected by analysts, according to Refinitiv.Revenue: $9.80 billion, vs. $9.79 billion as expected by analysts, according to Refinitiv.Oracle’s revenue grew 2% year over year in the quarter, which ended Nov. 30, according to a statement. In the prior quarter revenue grew 2%.Oracle’s largest business segment, cloud services and license support, generated $7.11 billion in revenue, up 4% year over year and above the $7.04 billion consensus estimate among analysts polled by FactSet.But smaller parts of Oracle’s business declined. The company’s cloud license and on-premise license segment contributed $1.09 billion in revenue, down 3%. Analysts polled by FactSet had been looking for $1.13 billion.Oracle’s hardware revenue totaled $844 million, down 3% although just above the $838 million FactSet analyst consensus. The company’s $752 million in services revenue, while slightly more than the $750 million consensus, was off by 7%.In the quarter President Donald Trump said he had agreed in principle to a deal that would involve moving U.S. user data for video-sharing app TikTok to Oracle’s cloud infrastructure. Oracle said it would become a 12.5% owner of TikTok Global as part of the deal. The deal is not final.Oracle also announced the availability of a cloud service organizations can use to monitor the health of different parts of applications running in clouds and on-premises centers.Excluding the after-hours move, shares of Oracle are up about 12% since the start of 2020, while the S&P 500 is up almost 14%.Executives will discuss the results with analysts and issue guidance on a conference call starting at 5 p.m. Eastern time.This is breaking news. Please check back for updates.WATCH: Salesforce CEO praises former boss Larry Ellison for TikTok deal

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