Oracle stock fell late Monday after the software giant reported adjusted earnings of $1.34 per share on $12.9 billion in fiscal second quarter sales.
X
On average, analysts polled by FactSet expected the Austin, Texas-based Oracle (ORCL) to earn $1.33 per share on $13.1 billion in sales for the November-ending quarter.
During the year-earlier period, Oracle’s earnings were $1.21 a share and the company reported $12.3 billion in sales.
Oracle has historically provided a forecast for the next quarter during its earnings call.
In after-hours trading on the stock market today, ORCL stock dropped 8% to 106 in recent action.
More earnings coverage to come.
Oracle Up 41% This Year
Heading into earnings, Oracle stock closed at 115.13, up 1.3% on the day Monday. This year, Oracle stock has gained about 41%. The 46-year-old database software giant is pushing to offer more cloud-based services. That includes generative artificial intelligence services for businesses.
Oracle stock is trading above its 50-day moving average. Further, shares have formed a consolidation pattern with a 127.54 buy point, according to IBD MarketSmith.
Further, the IBD Stock Checkup tool shows that Oracle has a Composite Rating of 83 out of a best-possible 99. The rating means Oracle stock currently outperforms 83% of all stocks based on fundamental and technical stock-picking criteria.
In addition, shares have a Relative Strength Rating of 81 out of 99, which measures how a stock’s price performance over the last 52 weeks holds up against other stocks in IBD’s database.
YOU MAY ALSO LIKE:
Get Free IBD Newsletters: Market Prep | Tech Report | How To Invest
Step Aside, Nvidia. This May Be The No. 1 AI Stock Of The Future.
IBD Live: Learn And Analyze Growth Stocks With The Pros
Why U.S. Chip Sanctions Against China Aren’t Working
Get Free IBD Newsletters: Market Prep | Tech Report | How To Invest