Oracle Sales Top Estimates on Growth at Cerner Health-Records Unit
- Quarterly sales increase 18%; Cerner generated $1.5 billion
- Earnings forecast may fall short of analyst projections
Oracle headquarters in Redwood City, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Oracle Corp. reported quarterly sales that exceeded analysts’ estimates on a strong effort from its Cerner digital health records unit, overcoming softer demand for information technology services in a choppy economy.
Sales increased 18% to $12.3 billion in the period ended Nov. 30, compared with analysts’ average estimate of $12 billion, according to data compiled by Bloomberg. Profit, excluding some items, was $1.21 a share, which included a hit of 9 cents from currency fluctuations. Analysts, on average, projected $1.18 a share.