Oracle Corp (NYSE:ORCL, ETR:ORC) stock plunged afterhours as the software firm's fiscal second quarter earnings missed Wall Street forecasts. Earnings per share of $1.47 were short of the consensus of $1.48.
Software and technology giant Oracle Corporation ORCL reported second-quarter financial results after the market close Monday.
Oracle missed on the top and bottom lines for the latest quarter. Oracle shares are up more than 80% this year, on pace for their best annual performance since 1999.
Oracle missed Wall Street expectations for second-quarter revenue on Monday, hit by softer spending on its database and cloud services as enterprise clients slash budgets amid an uncertain economy.
The company is expected to report a profit of $1.48 on sales of $14.1 billion.
Oracle Corp ORCL will be reporting its second-quarter earnings on Monday. Wall Street expects $1.48 in EPS and $14.12 billion in revenues as the company reports after market hours.
Oracle, seen as a potential AI winner, has rallied 80% this year. The post Oracle Stock Lower Ahead Of Big Earnings Test.
Oracle (ORCL) reports earnings after the closing bell, and Cory Johnson believes the company is poised for success. He points to the company's plan with Nvidia's (NVDA) Blackwell chips as a way to stay ahead of competition in Alphabet's (GOOGL) and Amazon's (AMZN) cloud services.
Oracle Corp ORCL is finding itself at a pivotal crossroads as it juggles ambitious plans in generative AI (GenAI) and cloud infrastructure with the realities of cautious IT budgets.
With the explosion of the Internet of Things (IoT) and the increasing use of generative AI, Oracle's solutions have become somewhat indispensable for companies aiming to stay competitive in the digital era.
November inflation data plus earnings reports from Oracle, Toll Brothers, AutoZone, GameStop, Adobe, Broadcom, Costco Wholesale, and RH.
CNBC's Jim Cramer walked investors through next week's Wall Street action, highlighting earnings from Oracle, Broadcom and GameStop, as well as new inflation data. He also mentioned earnings from C3.ai, AutoZone, Adobe and Toll Brothers.