Oracle Corp. blew away expectations for earnings and sales to close out its fiscal year Tuesday, but shares still dipped as investors awaited the company’s forecast to see if revenue growth is expected to continue at a similar pace.
Analysts on average expected adjusted earnings of $1.31 a share on revenue of $11.02 billion. Shares fell more than 1% in after-hours trading immediately following the release of the results. One reason for the gains has been Oracle’s strongest sales growth in years. For the full fiscal year, Oracle totaled $40.48 billion in sales, up 3.6% from its previous fiscal year. Oracle revenue had declined 1.1% and 0.8% in the past two years, respectively, and sales have declined four times in the past six years overall. The growth rate for the 2021 fiscal year is the second-best for Oracle since the end of the 2012 fiscal year.
JPMorgan analysts now question how much Oracle shares can continue to appreciate, as “a good chunk of the value-rotation uplift has now played out.”
u mean ORCLX**
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