Oracle Corporation Shares Up 9 percent on Exceptional Q4 Results

Oracle Corporation (NYSE:ORCL) shares were trading more than 9% higher Tuesday afternoon following the company’s reported strong Q4 earnings that shine particularly bright against an increasingly dark backdrop.
Quarterly EPS came in at $1.54, beating the Street estimate of $1.37. Revenue was $11.84 billion, compared to the Street estimate of $11.68 billion.
Amongst many positive surprises, double-digit organic revenue growth tops the list along with multiple signs of acceleration ahead, including guidance for over 30% cloud growth in 2023 from 22% exiting this year.
Analysts at Deutsche Bank believe management did a good job addressing what is most in question for the stock – organic growth expectations away from the recently closed Cerner acquisition. The analysts update their full 2023-year non-GAAP EPS estimate to $5.36 based on guidance, layering in Cerner, and their broader thoughts on the business.

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