Oracle tumbles as strong cloud competition, Cerner weakness dent forecast

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Go back to Oracle tumbles as strong cloud competition, Cerner weakness dent forecast

JPMorgan cuts Oracle (ORCL) stock after earnings as cloud growth 'may be peaking'

September 13, 2023 6:17 AM EDT

Oracle (NYSE: ORCL) shares fell as much as 13.5% on Tuesday due to slowing cloud sales growth for the quarter, marking the largest one-day drop since March 2002.

Despite this drop, Oracle's shares are still up 34.1% for the year.

Oracle reported adjusted revenue of $12.45 billion, which represented an 8.8% year-over-year increase but was slightly below the estimated $12.44 billion. When... More