Oracle stock drops after earnings fall short of Wall Street's forecast

Oracle Corp. shares fell in the extended session Thursday after the database-software company’s earnings missed Wall Street estimates.

Oracle ORCL, +0.72% shares fell as much as 8% after hours, following a 0.7% rise in the regular session to close at $76.65. For the fiscal third quarter, Oracle reported net income of $2.32 billion, or 84 cents a share, compared with $5.02 billion, or $1.68 a share, a year ago. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.13 a share, compared with $1.16 a share in the year-ago period.Analysts surveyed by FactSet had estimated earnings of $1.18 a share — based on Oracle’s forecast of $1.14 to $1.18 a share — and revenue of $10.51 billion.

Oracle shares are up 6% over the past 12 months, versus a 5% decline by the iShares Expanded Tech-Software Sector ETF IGV, -1.52%, while the S&P 500 index SPX, -0.43% has gained 9% and the tech-heavy Nasdaq Composite Index COMP, -0.95% is virtually flat.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Goldman Sachs Shutters Russia Business, First Major Wall Street Bank to Leave After Ukraine WarThe move is the latest sign of Russia’s increasing isolation in the third week of President Vladimir Putin’s campaign to overthrow the government of Ukraine.
La source: nbcchicago - 🏆 545. / 51 Lire la suite »

Stocks Slump on Wall Street as Oil, Inflation Worries RiseStock market swings have become common in recent weeks, not only day-to-day but hour-to-hour, after Russia’s invasion of Ukraine raised worries about how high prices will go for oil, wheat and other commodities produced in the region.
La source: wttw - 🏆 520. / 51 Lire la suite »