Watching Oracle shares as it looks to Cerner, cloud boost
Oracle’s results, due after the close, are set to give investors an update on how hybrid working is boosting its Cloud Infrastructure business.
And how much Cerner, the health information tech giant, is likely to contribute to future earnings.
(Video Transcript)
Oracle earnings
Oracle, an all-sessions stock on the IG platform, is set to hand in its fourth quarter (Q4) report card after the closing bell. Investors want to see how Oracle Cloud infrastructure has performed in recent months as the flexible work model is becoming more mainstream. In the third quarter (Q3), Oracle Cloud revenue accounted for 51% of its total revenue.
And in Q4, this is expected to rise to 53%. Another focus for investors, another center of interest, is Cerner the Health Information Tech Giant bought in 2022 for $28.3 billion, which contributed $1.5 billion of sales in the previous quarter. Now overall, the street anticipates earnings of $1 58 per share, a 2.6% rise on the same quarter a year ago. Sales are also forecast to rise 16% to $13.7 billion.
Share price chart
Just a look at Oracle's share price here, which has been moving steadily higher pretty much since October 2022. We've seen some form of resistance at the 9,000 level, and then again at 10,315, thereabouts, but it's broken above that, and it's now moving towards the next resistance point, which I have plotted for you at around 11,500 and beyond.
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