Oracle (ORCL) shares sinks 9% after Q2 guidance update

Oracle shares fall 9% on soft cloud guidance; Goldman flags 'lofty' expectations

(Updated - September 12, 2023 5:14 AM EDT)

Investing.com - Oracle reported on Monday fiscal first-quarter results that beat analysts' forecasts, as an ongoing push by businesses to develop generative artificial intelligence applications boosted demand for cloud services.

While Oracle Corporation (NYSE: ORCL) shares fell more than 3% in after-hours trade following the report, the decline extended to as much as 9% after the management offered a soft outlook for the second quarter on the earnings call.

Oracle announced adjusted EPS of $1.19 on revenue of $12.45 billion. Analysts polled by Investing.com anticipated EPS of... More

Oracle (ORCL) Tops Q1 EPS by 4c

Oracle (NYSE: ORCL) reported Q1 EPS of $1.19, $0.04 better than the analyst estimate of $1.15. Revenue for the quarter came in at $12.5 billion versus the consensus estimate of $12.44 billion.

For earnings history and earnings-related data on Oracle (ORCL) click here.

U.S. stocks are rising as investors hope for rate pause; data in view

Investing.com -- U.S. stocks were rising on hopes the Federal Reserve will leave rates unchanged when it meets this month, as investors anticipate nearing the end of its interest rate increases.

At 10:38 ET (14:38 GMT), the Dow Jones Industrial Average was up 55 points or 0.2%, while the S&P 500 was up 0.4% and the NASDAQ Composite was up 0.5%.

The three major Wall Street indices posted a losing week last week, with the blue-chip Dow Jones Industrial Average ending around 0.8 lower. The tech-heavy Nasdaq Composite dropped 1.9% and the broad-based S&P 500 fell 1.3%, their... More