Oracle shares jump on Google and OpenAI deals despite earnings miss

N

Nighthawk

Oracle

shares jumped as much as 11% in extended trading on Tuesday after the software maker announced cloud deals with Google and OpenAI, despite fourth-quarter results that fell short of Wall Street expectations.

Here’s how the company did compared with LSEG consensus:

  • Earnings per share: $1.63 adjusted vs. $1.65 expected
  • Revenue: $14.29 billion, vs. $14.55 billion expected

Oracle’s revenue increased 3% year over year during the quarter, which ended on May 31, according to a statement. Net income, at $3.14 billion, or $1.11 per share, was down from $3.32 billion, or $1.19 per share, in the year-ago quarter.

The cloud services and license support segment generated $10.23 billion in revenue, up 9% and slightly below the StreetAccount consensus of $10.29 billion.

https://www.cnbc.com/2024/06/11/oracle-orcl-q4-earnings-report-2024.html

Sell after-hours.
 
Weekly chart -
nice ascending triangle formation.

It has been on the uptrend since 2 decades ago.
What a strong company.
 
The ultimate Dog with fleas just like that other POS CSCO. Bet you the open will be the high of the day. It's only worth betting on with options the day before.
 
their guidance was stronger than expected and they signed an AI deal with google and Open AI. ORCL could see $140 tomorrow.
 
You must log in or register to reply here.
Back
Top