Reported 2 days ago
Oracle's second-quarter revenue of $14.06 billion fell short of Wall Street estimates of $14.11 billion, leading to an 8% drop in its shares. Despite a year-on-year growth of 9%, competition from major players like Microsoft and Amazon in the cloud service sector impacted its performance. The company posted an adjusted earnings per share of $1.47, slightly below the expected $1.48, and forecasts a third-quarter EPS between $1.50 and $1.54, lower than analysts' predictions. Analysts remain cautious about Oracle’s position in the cloud market as it continues significant investments to enhance its capabilities.
Source: YAHOO