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Oracle Second-Quarter Results Miss Views; Shares Decline After Hours
AI cloud infrastructure revenue failed to help Oracle's Q2 performance explode, with a drop of more than 9% in after-hours trading | Earnings report insights.
In the last fiscal quarter, Oracle's revenue grew by 9% year-on-year, while cloud computing service revenue accelerated by over 24%. The EPS growth slowed to 9.7%, slightly below expectations. The revenue guidance median and EPS guidance range for this fiscal quarter are both below expectations, with growth further slowing compared to the second fiscal quarter. The CEO stated that in the last fiscal quarter, Oracle's cloud infrastructure revenue grew by 52%, surpassing other competitors, and it is expected that cloud computing revenue will exceed 25 billion USD for this fiscal year.
Stocks to Watch: Oracle, Yext, Planet Labs
Cloud computing business shows steady growth, Oracle's (ORCL.US) Q2 financial report did not have any "big surprises."
Oracle (ORCL.US) reported quarterly revenue that met market expectations.
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SRK2024 : What do you all think?
73569545 : Tragic
71758372 :
Michael Louissaint : Nice to meet you all!
BearB : Did I miss anything?
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