Oracle (ORCL) edged above consensus estimates for earnings in its fiscal first quarter but its sales were only in line with views. Oracle stock slid more than 5% in after-hours trading.
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The database software and cloud computing giant reported adjusted earnings of $1.19 a share for the quarter ended Aug. 31. Revenue climbed 9% to $12.45 billion.
Analysts had expected Oracle to earn an adjusted $1.15 a share on revenue of $12.45 billion, according to FactSet.
During the regular session on the stock market today, Oracle stock closed up less than 1% to 126.70.
Ahead of the earnings report, shares of Austin, Texas-based Oracle were climbing on a pair of upgrades from UBS and Barclays. Both reports cited the potential for artificial intelligence applications to drive demand for Oracle’s cloud businesses.
Oracle stock was up 54.5% on the year entering trading Monday. Further, ORCL shares are currently in a cup base with a 127.54 buy point, according to MarketSmith pattern recognition.
According to the IBD Stock Checkup tool, Oracle has a Composite Rating of 95 out of a best-possible 99. The rating means Oracle stock currently outperforms 95% of all stocks based on fundamental and technical stock-picking criteria.
In addition, shares have a Relative Strength Rating of 96, which measures how a stock’s price performance over the last 52 weeks holds up against other stocks in IBD’s database.
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