Oracle Revenue Falls Short of Analysts’ Estimates on Wavering Demand
source link: https://finance.yahoo.com/news/oracle-revenue-falls-short-analysts-213654050.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Oracle Revenue Falls Short of Analysts’ Estimates on Wavering Demand
(Bloomberg) -- Oracle Corp. reported quarterly sales in line with analysts’ estimates after its cloud business failed to meet expectations for higher growth. The shares declined in extended trading.
Most Read from Bloomberg
Fiscal third-quarter revenue increased 18% to $12.4 billion, just short of analysts’ average estimate of $12.41 billion, according to data compiled by Bloomberg. Profit, excluding some items, was $1.22 a share. Analysts, on average, projected $1.20 a share.
Cloud revenue — the highly watched segment that Oracle has been trying to expand — rose 45% to $4.1 billion in the period ended Feb. 28, the Austin, Texas-based company said Thursday in a statement.
While Oracle’s cloud infrastructure business — renting computing power and storage — has been a relative laggard in the market, analysts have been optimistic the services are gaining customers and helping accelerate growth. The software giant has employed aggressive marketing and favorable pricing in an attempt to win clients from larger competitors Microsoft Corp. and Amazon.com Inc., which have seen cloud division growth slowdowns in recent quarters.
Large cloud deals, including one announced with Uber Technologies Inc., increased investor excitement ahead of earnings, wrote JP Morgan’s Mark Murphy. Analysts at Mizuho Securities said in advance of the results that Wall Street’s estimates for Oracle’s cloud business “appear conservative.”
But the results looked like “a little bit of a disappointment,” Dan Morgan, senior portfolio manager at Synovus Trust, said in an interview with Bloomberg Television.
Shares fell about 3.5% in extended trading after closing at $86.87 in New York. Oracle has been one of the steadiest tech stocks over the last year, rising 14% during the past 12 months.
MarketWatch10 banks that may face trouble in the wake of the SVB Financial Group debacle
Silicon Valley Bank wasn't well positioned for rising interest rates, leading to losses and a dilutive capital raise. Other banks show similar red flags.
2h ago
MarketWatchWarren Buffett just added millions more shares of this stock to his portfolio. And it has an 84% return since 2020. Should you invest?
While Buffett's stock picks may seem appealing, heed another piece of his advice: "I don’t think most people are in a position to pick single stocks."
4h ago
BloombergSVB Financial CEO Asks Silicon Valley Bank Clients to ‘Stay Calm’ as Shares Sink
(Bloomberg) -- SVB Financial Group Chief Executive Officer Greg Becker held a conference call on Thursday advising clients of SVB-owned Silicon Valley Bank to “stay calm” amid concern about the bank’s financial position, according to a person familiar with the matter. Most Read from BloombergCompanies Are Telling Us the Real Reason They're Still Raising PricesBiden to Urge 25% Billionaire Tax, Levies on Rich InvestorsIn Biden’s Tax-the-Rich Budget, Capital-Gains Rates Near 45%Rookie Traders Are
1h ago
ZacksWells Fargo (WFC) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Wells Fargo (WFC) closed at $43.84, marking a -1.37% move from the previous day.
23h ago
Yahoo FinanceStock market news today: Stocks crushed as banking fears rise, jobs report looms
Stocks fell sharply on Thursday as worries over the banking sector and a looming jobs report pressured markets during a day of relentless selling for U.S. socks.
1h ago
TipRanksJ.P. Morgan likes these 2 top dividend stocks yielding as high as 13% — they’re attractively valued and provide growth upside to boot
Spring is coming up , and investors will need to break out the crystal ball when looking at the market conditions. There’s a growing consensus that even though inflation is down from last summer’s peak, it has plateaued at a high level. Watching the situation from banking giant JPMorgan, CEO Jamie Dimon takes the view that we won’t be getting back to the Fed target of 2% any time soon. Furthermore, while Dimon hails an economy that is “doing quite well” with plenty of jobs to go round, he also s
7h ago
Barrons.comSVB Financial Realigns Portfolio—and Blows Up the Banking Sector
Lender SVB Financial Group’s stock plummeted Thursday after it sold assets for a loss following a decline in deposits. SVB’s troubles came as the Silicon Valley-based lender was forced to sell securities to realign its portfolio in response to higher interest rates while it manages lower deposit levels from clients, many of which are in the venture capital arena and burning through cash. After Wednesday’s market close, SVB said it sold all of its $21 billion in securities classified as available for sale (AFS), a portfolio essentially comprised of U.S. Treasury and mortgage-backed securities.
36m ago
Investor's Business DailyOracle Earnings Edge Above Estimates While Sales Slightly Miss
Database software giant Oracle reported quarterly earnings late Thursday that barely topped estimates.
11m ago
ZacksVerizon Communications Inc. (VZ) is Attracting Investor Attention: Here is What You Should Know
Verizon (VZ) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
1d ago
ZacksDo Options Traders Know Something About Tellurian (TELL) Stock We Don't?
Investors need to pay close attention to Tellurian (TELL) stock based on the movements in the options market lately.
9h ago
MarketWatchOracle stock drops more than 5% as segments other than cloud services miss on revenue
Oracle Corp. shares fall in the extended session after the software company's revenue comes in a hair below the Wall Street consensus.
24m ago
InvestopediaSVB Financial Group Shares Crater on Stock Sale Announcement
Shares of SVB Financial Group (SIVB) are cratering after the holding company for Silicon Valley Bank announced it was seeking to raise $2.25 billion in stock sales in order to shore up its financial position.
4h ago
ZacksEnergy Fuels (UUUU) Reports Q4 Loss, Lags Revenue Estimates
Energy Fuels (UUUU) delivered earnings and revenue surprises of -120% and 82.20%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
21h ago
ZacksAkebia Therapeutics (AKBA) Reports Q4 Loss, Tops Revenue Estimates
Akebia Therapeutics (AKBA) delivered earnings and revenue surprises of 71.43% and 14.14%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
8h ago
Investor's Business Daily11 Top Growth Stocks Expecting Up To 166% Rise This Year
Allegro MicroSystems and PDD stock join nine other top-rated growth stocks eyeing 50% to 166% EPS growth this year.
58m ago
Barrons.comWhy SVB’s Bad News Clobbered Bank Stocks Like JPMorgan and Wells Fargo
Small things can lead to big reactions, and that seems to be the case with bank stocks on Thursday, as a huge loss at SVB Financial (ticker: SIVB) has caused stocks like JPMorgan Chase (JPM), Bank of America (BAC), and Wells Fargo (WFC) to get pummeled. Silicon Valley Bank’s parent, SVB Financial, said Wednesday night that it had sold securities from its portfolio for a $1.8 billion loss, while also announcing plans to raise capital via an offering of common and preferred stock. SVB Financial stock tumbled 62% to $119.35 on Thursday, its largest drop ever.
51m ago
TheStreet.comFed's Rate Hikes: Where Will the S&P 500 and Nasdaq Go Now?
As the Federal Reserve looks to raise interest rates, where does that leave the stock market going next? Let's look at the technicals.
3h ago
Barrons.comFuelCell Stock Is Rising. Its Sales Beat Is Just One Reason.
The Inflation Reduction Act will be a key driver of growth for the company that makes electricity from hydrogen.
7h ago
Barrons.comDocuSign Stock Falls on Strong Earnings
DocuSign shares were trading lower after the electronic-signature software company posted better-than-expected results. DocuSign (ticker: DOCU) posted fiscal fourth-quarter adjusted earnings per share of 65 cents, topping the consensus estimate of 52 cents, according to FactSet. The software company’s shares fell as much as 5% in after-hours trading following the release.
26m ago
MoneyWiseHow much money do I need to live completely off dividends? This is how to figure out the lowest amount you need to make it work
Yes, there's math. No, it's not that hard.
10h ago
Investor's Business DailyGE Stock Soars Nails 58-Month High On 2023 Guidance, Long-Term Outlook
Here's what the storied conglomerate discussed at an investor event Thursday. GE stock rallied after the event.
54m ago
Yahoo FinanceSilvergate stock falls Thursday after bank announces voluntary 'wind down'
Silvergate shares fell Thursday after the crypto bank announced that it would be liquidating, raising new doubts about the relationship between traditional banks and the crypto world.
5h ago
Investor's Business DailyCathie Wood Grabs Another $12.6 Million Piece Of Tesla
Cathie Wood and her ARK Invest firm are buying the dip on Tesla stock as Elon Musk's EV giant stalls on its massive rally to start the year.
38m ago
TheStreet.comAnalyst Believes One Tech Stock Could Skyrocket Soon
Shares of one of tech's biggest names have come under relentless pressure over the past year as its CEO pursued a quixotic quest to develop the next big thing. Oppenheimer analyst Jason Helfstein's annual price target indicates that Meta Platforms could see as much as a 27% jump in stock price over the coming year. For years, Meta has been at the forefront of virtual reality and artificial intelligence technology.
2h ago
11h ago
ZacksFuelCell Energy (FCEL) Reports Q1 Loss, Tops Revenue Estimates
FuelCell Energy (FCEL) delivered earnings and revenue surprises of 28.57% and 34.48%, respectively, for the quarter ended January 2023. Do the numbers hold clues to what lies ahead for the stock?
8h ago
BloombergApple Supplier’s Vietnam Chief Exits After Outlining China Shift
(Bloomberg) -- AirPods maker GoerTek Inc.’s Vietnam business chief is leaving the company, days after the executive outlined how Apple Inc.’s Chinese suppliers are likely to move capacity out of the country far faster than anticipated to pre-empt fallout from escalating Beijing-Washington tensions.Most Read from BloombergCompanies Are Telling Us the Real Reason They're Still Raising PricesBiden to Urge 25% Billionaire Tax, Levies on Rich InvestorsIn Biden’s Tax-the-Rich Budget, Capital-Gains Rat
15h ago
Investor's Business DailyDow Jones Rises 175 Points On Surprise Jump In Jobless Claims; Bitcoin Drops As Crypto Bank Silvergate Crashes 40%
The Dow Jones rose Thursday after jobless claims data. Bitcoin dropped, as crypto bank Silvergate Capital crashed 50% on liquidation.
7h ago
MarketWatchDow tumbles over 400 points in final hour of trade as investors await monthly employment report
U.S. stocks extended losses in the final hour of trade on Thursday, while awaiting Friday's February employment data that could help decide how large an interest rate hike the Federal Reserve will impose at its next meeting in two weeks.
2h ago
BloombergBank Stocks Sink Most in Nearly Three Years as Sentiment Sours
(Bloomberg) -- US bank stocks tumbled by the most in almost three years after a Silicon Valley-based lender took steps to shore up its capital position, stoking concern that soaring interest rates are eroding balance sheets across the financial industry.Most Read from BloombergCompanies Are Telling Us the Real Reason They're Still Raising PricesBiden to Urge 25% Billionaire Tax, Levies on Rich InvestorsIn Biden’s Tax-the-Rich Budget, Capital-Gains Rates Near 45%Rookie Traders Are Earning $400,00
38m ago
ZacksAemetis (AMTX) Reports Q4 Loss, Lags Revenue Estimates
Aemetis (AMTX) delivered earnings and revenue surprises of -85.29% and 10.81%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
7h ago
ZacksHudson Technologies (HDSN) Q4 Earnings Top Estimates, Down Y/Y
Hudson Technologies' (HDSN) 2022 fourth-quarter revenues reflect higher sales volume and increased selling price.
7h ago
Investor's Business DailyStock Market Gives Back Gains; More Banks Have A Rough Day
The stock market's major indexes struggled to stay positive and were flat or lower at midday Thursday. Investor enthusiasm waned from the higher-than-expected initial weekly jobless claims number released earlier today.
5h ago
SmartAssetAsk an Advisor: ‘Am I Getting Fleeced?' I'm 66, Contributing $272 Per Month to an IRA and Paying $136 Monthly in Fees. That's 50% of My Contribution
I am 66 years old, still working and with very good health insurance. My company does not have a 401(k). I do have an individual retirement account (IRA) with approximately $120,000 invested. I contribute $272 per month, yet my program … Continue reading → The post Ask an Advisor: ‘Am I Getting Fleeced?' I'm 66, Contributing $272 Per Month to an IRA and Paying $136 Monthly in Fees. That's 50% of My Contribution appeared first on SmartAsset Blog.
1d ago
1d ago
Yahoo FinanceSilvergate Capital will liquidate after crypto collapse wipes out bank
Silvergate said late Wednesday it would wind down operations after a run on the bank caused by crypto outflows led to mounting losses for the firm.
1d ago
MarketWatchBiden’s tax hikes for the rich are unlikely to pass. The bigger debate: Trump-era tax cuts that end in 2025.
The 2025 sunsetting of notable 2017 individual-income-tax rules is "a hurricane we already see on the radar."
1h ago
ZacksThe Zacks Analyst Blog Highlights TriplePoint Venture Growth BDC, Vector Group, FLEX LNG, Saratoga Investment and Main Street Capital
TriplePoint Venture Growth BDC, Vector Group, FLEX LNG, Saratoga Investment and Main Street Capital are included in this Analyst Blog.
12h ago
Barrons.comSilvergate’s Woes Are Sending Signature Stock Lower, but It Might Be a Buy
Shares of Signature Bank, which has a significant crypto client base, are being weighed down amid the Silvergate implosion. It could be an opportunity for the risk-tolerant.
4h ago
Barrons.comCathie Wood Is Buying Tesla Again
STOCKSTOWATCHTODAY BLOG High-profile fund manager Cathie Wood is buying the dip in Tesla stock. Wood’s ARK Invest has purchased 51,960 shares of Tesla (ticker: TSLA) for its (ARKK) and 17,369 shares of Tesla stock for its (ARKW), according to a Wednesday email containing recent share trades.
7h ago
Recommend
-
60
Chinese smartphone maker Xiaomi Corp reported better than-expected quarterly revenue on Monday due in part to steady growth in sales outside its home market.
-
7
Baidu beats quarterly revenue estimates as it continues to push into AI and cloud businessBaidu beats quarterly revenue estimates as it continues to push into AI and cloud business May 19, 2021 5:20 pm Chinese search engine and artifi...
-
8
Apple earnings blow past analysts’ estimates yet again
-
7
February 10, 20223:15 PM UTCLast Updated 8 hours agoTwitter misses ad revenue and user growth estimates; revenue forecast lightBy Sheila Dang
-
14
TechExpedia stock closes down 14% after analysts cut price targets on mixed earnings...
-
8
Alibaba's January-March revenue beats estimates despite macro challenges Alibaba Alibaba's January-March revenue beats estimates despite macr...
-
12
TechToast shares pop as revenue beats estimates and forecast shows more restaurants...
-
7
AWS recorded its weakest growth to date and missed analysts’ estimates about 4 hours ago ...
-
4
Apple shares rise even as analysts tweak estimates over China-related iPhone 14 Pro issue Tuesday, November 8, 2022 8:57 am
-
9
Short-term semiconductor revenue estimates have worsened, says Gartner...
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK