Oracle Corporation (ORCL)

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Oracle (ORCL) Earnings Miss, Revenue Inline In Q3
By: Investing.com | March 10, 2022

Oracle (NYSE:ORCL) reported on Thursday third-quarter earnings that missed analysts' forecasts and revenue that was inline with expectations.

Oracle announced earnings per share of $1.13 on revenue of $10.51B. Analysts polled by Investing.com anticipated EPS of $1.18 on revenue of $10.51B.

The company's total cloud revenue was $2.8 billion, up 24%. Its overall revenue growth is being driven by its rapidly growing Cloud Infrastructure and Cloud Applications businesses.

Oracle shares are down 11% from the beginning of the year. They fell a further 6.06% in after-hours trade following the report.

"In Q3, Oracle delivered over 7% constant currency revenue growth—our highest quarterly organic revenue growth rate since we began our transition to the cloud," said Oracle CEO, Safra Catz. "This strong top line growth was coupled with a solid non-GAAP constant currency operating profit growth of 4%.

Oracle also declared a quarterly cash dividend of $0.32 per share.

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