Here's what investors selling Oracle on the company's mixed quarter and lower guide are missing

  • 📰 CNBC
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

The financial results could be an example of when it's more important to focus on what the company says about the long-term.

Oracle shares declined more than 9% on Monday evening after the enterprise software company reported a mixed fiscal 2024 first quarter that showed robust growth in cloud services, offset by lukewarm numbers in some of the legacy parts of its business. A weaker-than-expected fiscal second-quarter revenue guide was also to blame for further pressuring the stock in after-hours trading. Revenue for fiscal Q1 — the three months ended Aug. 31 — increased 9% year-over-year to $12.

mountain Oracle YTD performance While it's not the quarter and guidance we were looking for, partly because of some headwinds at Cerner , the outcome could be an example of when it's more important to focus on what the company is saying about the long-term direction of the business rather than obsess over a couple of percentage points.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines