Followers | 686 |
Posts | 142953 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
![](https://investorshub.advfn.com/uicon/35728.png?cb=1539773763)
Thursday, September 21, 2023 5:09:27 PM
By: Investing.com | September 21, 2023
Oracle Corp (NYSE:ORCL). has reaffirmed its yearly revenue projection of $65 billion by the fiscal year 2026, a forecast initially shared with investors a year ago. This reassertion comes despite recent quarterly results that left some investors disappointed. Oracle's Executive Vice President, Doug Kehring, restated these projections at the company's annual financial analysts' conference on Thursday. He expressed confidence in reaching the stated revenue goal, maintaining a 45% operating margin by fiscal 2026, and achieving an over 10% annual increase in earnings per share.
The company's strategic focus remains on expanding its cloud-computing rental business, an area where it has historically lagged behind competitors like Amazon.com Inc (NASDAQ:AMZN)., Microsoft Corp (NASDAQ:MSFT)., and Alphabet (NASDAQ:GOOGL) Inc.’s Google. However, investor optimism has been growing as Oracle's cloud services are believed to have the potential to grow rapidly and meet the high-demand computing needs of artificial intelligence products.
Kehring emphasized that Oracle's cloud infrastructure business, which generated $5 billion in revenue in the fiscal year ending May 2023, is targeting Google. However, this revenue represented only about 10% of Oracle's total income.
Investor enthusiasm was dampened last week when Oracle reported a 30% increase in cloud sales for the quarter, compared to a 54% surge in the previous period. This announcement led to a nearly 14% drop in Oracle's shares, marking the largest single-day decline in over two decades and pulling them down from an all-time peak.
Ahead of Thursday's event, many analysts anticipated that Oracle would maintain its outlook. To reach its target, the company needs to sustain an average annual sales growth rate of approximately 9% over the next three fiscal years.
However, given the recent slowdown in Oracle's electronic health records division Cerner (NASDAQ:CERN), which it acquired last year, and the ongoing shift to cloud services, some analysts, including Bloomberg Intelligence's Anurag Rana, believe this to be a challenging endeavor.
On Thursday, Oracle's shares fell by 2.8% to $109.65 at 3:13 p.m. in New York. Despite last week's drop, the stock had risen by 38% this year through Wednesday's close.
Read Full Story »»»
![](http://studentaid.gov/universal-navigation/assets/us_flag_small.png)
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent ORCL News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/26/2024 11:44:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/26/2024 11:42:03 PM
- Alphabet Unveils AlphaProof and AlphaGeometry 2; OpenAI Tests SearchGPT; Apple Loses Market Share in China • IH Market News • 07/26/2024 10:07:41 AM
- Salam Taps Oracle to Optimize Business Operations and Innovate with New Service Offerings • PR Newswire (US) • 07/25/2024 12:00:00 PM
- Odyssey House Implements Oracle Health to Help Enhance Patient Care, Improve Revenue Management • PR Newswire (US) • 07/24/2024 01:00:00 PM
- Oracle Helps HR Teams Boost Employee Productivity and Drive Success • PR Newswire (US) • 07/23/2024 12:00:00 PM
- Berkshire Sells BofA Holdings, Ryanair Shares Drop 12%, Delta Still Struggling After IT Disruption • IH Market News • 07/22/2024 09:44:17 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/11/2024 10:24:52 PM
- Oracle Announces Exadata Exascale, World's Only Intelligent Data Architecture for the Cloud • PR Newswire (US) • 07/11/2024 03:00:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 07/10/2024 08:37:48 PM
- Global Organizations Boost Growth with Oracle Cloud VMware Solution • PR Newswire (US) • 07/10/2024 03:00:00 PM
- Oracle Advances Safety Case Management for Life Science Organizations • PR Newswire (US) • 07/10/2024 12:00:00 PM
- Microsoft and Apple Exit OpenAI Board, TSMC Exceeds Forecasts with Record Revenue, and Other Key Updates • IH Market News • 07/10/2024 10:42:17 AM
- Oracle and Palantir Unlock New Innovation in Cloud and AI to Power Businesses and Governments Around the World • PR Newswire (US) • 07/09/2024 12:00:00 PM
- Hitachi Construction Machinery Drives Digital Transformation by Moving Large-scale Systems to Oracle Cloud Infrastructure • PR Newswire (US) • 07/01/2024 03:00:00 PM
- Oracle Announces Industry First In-Database LLMs and an Automated In-Database Vector Store with HeatWave GenAI • PR Newswire (US) • 06/26/2024 03:00:00 PM
- Oracle Cloud Helps Health Insurers Reduce Data Complexity and IT Costs • PR Newswire (US) • 06/25/2024 12:00:00 PM
- SolarEdge Stock Falls 13%, Wegovy Approved in China, Grail Nasdaq Debut, Apple Rejects Meta Chatbot • IH Market News • 06/25/2024 10:36:11 AM
- Oracle Named a Leader in the 2024 Gartner® Magic Quadrant™ for Analytics and Business Intelligence Platforms • PR Newswire (US) • 06/24/2024 04:00:00 PM
- AI-Powered Oracle Clinical Digital Assistant Transforms Interactions Between Practitioners and Patients • PR Newswire (US) • 06/24/2024 10:00:00 AM
- Honeywell Acquires CAES Systems for $1.9 Billion, Sarepta Therapeutics Surges 34%, Gilead Continues Gains • IH Market News • 06/21/2024 12:00:38 PM
- Oracle to Invest More Than $1 Billion in AI and Cloud Computing in Spain • PR Newswire (US) • 06/20/2024 04:00:00 PM
- Oracle Autonomous Database Now Generally Available on Oracle Database@Azure • PR Newswire (US) • 06/20/2024 12:00:00 PM
- Oracle APEX AI Assistant Enables Natural Language-Based Development of Enterprise Applications • PR Newswire (US) • 06/17/2024 03:00:00 PM
- U.S. Department of Veterans Affairs Extends Oracle EHR Modernization Contract • PR Newswire (US) • 06/13/2024 05:12:00 PM
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution • GDLG • Jul 26, 2024 12:30 PM
Southern Silver Files NI43-101 Technical Report for its Updated Preliminary Economic Assessment for the Cerro Las Minitas Project • SSV • Jul 25, 2024 8:00 AM
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM