NEW YORK (TheStreet) -- Oracle (ORCL) shares are up 3.2% to $42.53 in after hours trading on Wednesday following the release of the enterprise technology product and service provider's second quarter financial results after the closing bell today.
The company reported earnings of 69 cents per diluted share on an adjusted basis that beat Wall Street's expectations by one cent. The company generated revenue of $9.6 billion during the period, also topping the Street's $9.5 billion expectations.
This quarter's earnings beat is a reversal of fortune for the Redwood City, CA-based company which had failed to beat analysts' earnings expectations for three consecutive quarters.
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TheStreet Ratings team rates ORACLE CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate ORACLE CORP (ORCL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, reasonable valuation levels, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: