Oracle Corp. shares were shooting more than 9% higher in Tuesday's extended session after the company delivered upbeat guidance that seemed to overshadow an earnings miss for the latest quarter.
Oracle's results came in a bit light, but it pointed to new business from Microsoft-backed OpenAI. The company will issue guidance on a conference call.
Oracle Inc is up 10% in extended hours even though it came in below revenue estimates for its fiscal fourth quarter. Why is Oracle stock up in after-hours?
Oracle missed Wall Street expectations for fourth-quarter revenue on Tuesday, hurt by weaker client spending on its cloud services amid stiff competition and an uncertain economy.
Oracle Corporation ORCL will release earnings results for its fourth quarter, after the closing bell on Tuesday.
With U.S. stock futures trading lower on Tuesday morning, some of the stocks that may grab investor focus today are as follows:
Street consensus is expecting $1.65 in EPS in $14.56 billion in revenue for expected yoy growth of -1% and +5% respectively. Operating income is expected to come in at $6.65 billion for expected yoy growth of 8%. Oracle is not an expensive stock on a valuation basis, but as an enterprise software vendor trying to find a strategy for AI, the growth is better in Microsoft as you'd expect since Azure and the Intelligent Cloud were both better suited for the cloud than Oracle's offering.
Oracle Corporation will release earnings results for its fourth quarter, after the closing bell on Tuesday.
Last month, we were greeted with a +3.4% Inflation Rate and +3.6% on core CPI year over year.
Oracle is capitalizing on the growing popularity of artificial intelligence.
Oracle (ORCL) is set to report earnings for the fourth quarter of fiscal 2024 after the bell on Tuesday, with investors watching for cloud infrastructure growth and strategy updates about sovereign artificial intelligence (AI).
Oracle's (ORCL) fourth-quarter results are likely to reflect its progress in driving cloud adoption, leveraging strategic partnerships and delivering innovative AI solutions amid stiff competition.