Oracle Corp ORCL shares tanked in early trading on Tuesday after the company reported downbeat fiscal second-quarter results.
Oracle shares had their steepest drop in a year on Tuesday following the company's disappointing earnings report. Oracle also issued a weaker-than-expected forecast.
CNBC's Seema Mody reports on the dollar's impact on earnings.
ETFs with the highest allocation to Oracle are in focus for the coming weeks following disappointing second-quarter results.
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Oracle Corporation's Q2 results missed estimates slightly, leading to an 8% share slump; there is robust cloud demand, but valuation seems stretched, prompting a downgrade to hold. Revenues were $14.1B (+9% y/y), with cloud infrastructure up 52% y/y; operating income and margins showed slight improvements. Oracle's AI and cloud infrastructure partnerships, as with Meta Platforms, indicate strong future growth potential, but market competition remains intense.
Oracle (ORCL -7.58%) stock is sinking in Tuesday's trading following the company's recent quarterly report. The tech giant's share price was down 6.8% as of 10:45 a.m.
Larry Ellison, Oracle's billionaire co-founder, had his net worth cut by $15 billion Tuesday as the company's stock paced its worst loss in nearly a year, after a recent earnings report that fell short of estimates, though analysts remained optimistic about the database software firm.
Oracle (ORCL) shares tumbled after the cloud company's fiscal second-quarter revenue fell short of Wall Street's expectations, but analysts are mixed on what to make of its future.
Patrick Walravens, Citizens JMP analyst, joins 'Squawk on the Street' to discuss Oracle's quarterly earnings results, the milestones Oracle should be judged by, and much more.
Wolfe Research analyst Alex Zukin recommends loading up on Oracle Corp (NYSE: ORCL) on the post-earnings weakness as it's effectively the fourth hyperscaler for new AI workloads. Oracle came in slightly below Street estimates for its fiscal second quarter last night.
Oracle Corporation ORCL posted weaker-than-expected earnings and sales results for its second quarter on Monday.