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Jim Cramer: How Oracle's Strategy Is Appealing to Other Companies

Real Money Stock of the Day Oracle reported earnings after the bell Wednesday, June 20. Oracle beat analysts' earnings and revenue expectations for its fiscal fourth quarter, and said first-quarter profit likely would top forecasts. Adjusted earnings in the fourth quarter were $1.19 a share on revenue of $11.14 billion. Analysts were expecting earnings of $1.07 a share on revenue of $10.93 billion. The company's cloud services and license support segment accounted for 61% of its revenue, bringing in $6.79 billion in the period, higher than forecasts of $6.76 billion. But what does Cramer think that Oracle means for the larger Cloud sector? "Well, it says that we're still early. It says that the migration's going to pace. It says that Oracle's strategy is appealing to some companies, particularly companies that combined and they're trying to figure who to take. There was one slag of Salesforce , very slight mention, one pretty heavy slag of Workday ," explained Cramer. Related. Oracle's Charts Could Switch From Bearish to Bullish With Strong Close Thursday

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