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.