Tech giant Oracle saw its stock price rise 12% after it posted strong earnings Monday that beat revenue and earnings estimates.
Net income jumped 21% year-over-year to $2.93 billion, or $1.03 per share. On an adjusted basis, earnings per share rose 17% year over year to $1.30 per share, beating estimates of $1.32 per share. Oracle now has multi-cloud agreements with the big three, Amazon, Microsoft, and Google. On the earnings call, Ellison said this will allow customers to use the Oracle database “anywhere and everywhere.”
Piper Sandler analyst Brent Bracelin said his firm is encouraged by Oracle’s broad strength across multiple revenue streams, including its multi-cloud partners. While Oracle stock just hit a record high, it is still reasonably valued, and should have plenty of room to run over the long term.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Is Walmart Stock a Buy After Earnings Beat?Stocks Analysis by ValueWalk (Dave Kovaleski) covering: Walmart Inc, Home Depot Inc. Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
Leggi di più »
3 Stocks That Could Benefit from Interest Rate CutsStocks Analysis by ValueWalk (Dave Kovaleski) covering: Amazon.com Inc, PayPal Holdings Inc, Affirm Holdings Inc. Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
Leggi di più »
Why Snowflake Shares Dropped 13% Despite Q2 Earnings BeatStocks Analysis by ValueWalk (Dave Kovaleski) covering: Berkshire Hathaway Inc Class A, Snowflake Inc. Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
Leggi di più »
What's Behind This AI Stock's 14.7% Drop Despite Q2 Earnings Beat?Stocks Analysis by ValueWalk (Dave Kovaleski) covering: Berkshire Hathaway B, Berkshire Hathaway Inc Class A, Snowflake Inc. Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
Leggi di più »