Home / Business and Economy / Oracle Earnings Soar Past Expectations!
Oracle Earnings Soar Past Expectations!
11 Dec
Summary
- Oracle's quarterly earnings per share exceeded estimates by 38.65%.
- The company reported revenues of $16.06 billion, slightly missing forecasts.
- Oracle shares have significantly outperformed the S&P 500 year-to-date.
Oracle has reported a significant beat on its quarterly earnings, with earnings per share reaching $2.26, far exceeding the consensus estimate of $1.63. This impressive performance represents an earnings surprise of 38.65% for the software giant. Despite this positive earnings news, the company's revenues for the quarter stood at $16.06 billion, falling just short of the Zacks Consensus Estimate by 0.55%.
In the past year, Oracle has surpassed earnings per share estimates in two out of the last four quarters. However, it has only topped revenue expectations once during the same period. The stock has demonstrated robust growth, with shares climbing approximately 32.9% since the start of the year, significantly outperforming the broader S&P 500's gain of 16.3%.
Looking ahead, Oracle's stock performance will likely depend on management's insights during the earnings call. Current analyst estimates project $1.70 in earnings and $16.82 billion in revenues for the upcoming quarter, and $6.81 in earnings and $66.89 billion in revenues for the current fiscal year. The stock currently holds a Zacks Rank #3 (Hold), suggesting in-line market performance.
