Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessOracle misses third-quarter revenue estimate, shares drop by almost five percent

Oracle misses third-quarter revenue estimate, shares drop by almost five percent

Add to Favorite
Added to Favorite

 

Credit Oracle

Oracle Corporation (ORCL) is a leading software tech company in the US. The Austin, Texas based company reported its fiscal 2023 third quarter results on March 9. It has seen a share drop of close to five percent after its fiscal third quarter results were not up to the mark. The enterprise tech giant’s financial results in its third quarter fell due to a loss in revenue.

According to Refinitiv estimates, Oracle had the following results:
Earnings per share adjusted were $1.22 while analysts predicted $1.20 per share.
Revenue was $12.40 billion though analysts estimated a higher revenue of $13.42 billion.

In its third quarter report ending February 28, the computer software company reported a fall in net income from $2.32 billion, or 84 cents a share in the third quarter of 2022 to $1.90 billion, or 68 cents per share in Q3 this year.



Oracle also reported an operating income of $3.3 billion during Q3. This marks a decline of 18 percent from $2.3 billion reported in the same quarter last year. Oracle claimed that the strong dollar had an impact. The currency strength apparently lowered its adjusted income per share by five cents.

Oracle CEO Safra Catz released a statement that said that the company’s non-GAAP earnings per share growth reached the high end of their guidance and had gone up by 13 percent.

Catz added that their “strong quarterly earning growth” was a result of 48 percent “constant currency growth for the total revenue” of their “two cloud businesses, infrastructure and applications.”

According to its website the company “offers integrated suites of applications” as well as “secure, autonomous infrastructure in the Oracle Cloud.”

The company remains confident about the demand for its cloud software more so after it recently acquired Cerner, an electronic medical records company.

Oracle has said that its fourth-quarter revenue will see a growth between 15 and 17 percent. Some analysts have estimated the fourth quarter growth revenue of the software giant to be 16.2 percent, as of now.

Groupon: Looking For A Post-Earnings Rebound

Subscribe to get Latest News Updates

Latest News

You may like more
more

Waystar Holding Corp. Makes Its Market Debut

Waystar Holding Corp. launched its IPO at $21.50 per share,...

Planet Fitness Receives Price Target from D.A. Davidson

Linda Bolton Weiser of D.A. Davidson sets a price...

Duolingo Inc. Receives Optimistic Price Target

Wyatt Swanson of D.A. Davidson sets a price target...