After the manufacturer of database software reported revenue and revenue guidance that were lower than anticipated, Oracle shares fell 9% in extended trading on Monday.
This is how the business did:
Earnings: $1.19 per share, adjusted, as opposed to the $1.15 per share that analysts had predicted, according to LSEG.
According to LSEG, revenue was $12.45 billion as opposed to the $12.47 billion analysts had predicted.
Oracle’s fiscal second quarter guidance predicted adjusted net income of $1.30 to $1.34 per share and revenue growth of 5% to 7%. According to LSEG’s survey of analysts, adjusted earnings per share of $1.33 and $13.28 billion in revenue, or 8% revenue increase, were expected.
In the fiscal first quarter that ended on August 31, Oracle’s revenue increased 9% year over year. From $1.55 billion, or 56 cents per share, in the same quarter last year, net income increased to $2.42 billion, or 86 cents per share.
The electronic health record software business Cerner was acquired by Oracle for $28.2 billion in June 2022. Currently, Oracle is “accelerated transitioning” Cerner to the cloud, which is slowing down its revenue growth, according to Safra Catz, the CEO of Oracle, on a conference call with investors.
Source (CNBC)
