Replies to post #29265 on Cycle Trading

[No-Quarter]

Ooo, that one smarts.

https://www.investing.com/news/stock-market-news/oracle-plunges-9-following-q2-revenue-miss-3254278

Shares of Oracle (NYSE:ORCL) dropped over 9% after-hours today following the announcement of the company's Q2 results. Oracle reported a shortfall in its quarterly revenue, attributed to a challenging economic environment and heightened competition in the cloud computing sector, impacting the demand for its cloud services.

Oracle reported Q2 revenue of $12.9 billion (up 5% year-over-year), missing the consensus estimate of $13.05B. EPS came in at $1.34, compared to the consensus estimate of $1.33.

The company saw a 12% increase in its Cloud services and license support revenue, reaching $9.6B. However, cloud license and on-premise license revenues witnessed a downturn, decreasing 18% to $1.2B.

"Demand for our Cloud Infrastructure and Generative AI services is increasing at an astronomical rate. As a measure of that demand, Oracle's total Remaining Performance Obligations (RPO) climbed to over $65 billion—exceeding annual revenue,” said CEO Safra Catz.