Technology company Oracle Corporation (ORCL) released its second quarter financial results after the closing bell on Wednesday. Here’s what the results mean for mutual fund investors.
Inside the Results
The company reported earnings of $2.5 billion, or 56 cents per share, compared to last year’s results of $2.55 billion, or 56 cents per share. Excluding special items, earnings were 69 cents per share, which matched analysts’ EPS estimates.
Revenue came in at $9.6 billion, up from $9.3 billion a year ago. Analysts expected to see revenue of $9.5 billion.
All Eyes on the New Co-CEOs
The attention has been on ORCL’s management, after its former CEO Larry Ellison stepped down in September. So far, the company is off to a good start – reporting promising earnings for the second quarter. Notably, the company’s cloud services were a standout in its earnings release. This service is something that Larry Ellison was previously very pessimistic about. For future reports, investors should pay attention to the performance of the company’s cloud services.
Mutual Funds to Watch
The mutual funds below may be a good option for investors seeking exposure to ORCL. The three funds listed currently hold the largest stakes in the company.
|VTSMX||Vanguard Total Stock Market Index||1.25%|
|VFINX||Vanguard 500 Index||0.77%|
|SGENX||First Eagle Global||0.53%|
The Bottom Line
The funds above offer investors exposure to Oracle, while remaining diversified. Investors interested in ORCL may also be interested in Intel (INTC) and International Business Machines (IBM).
Shares of ORCL are up 15% YTD.