Oracle preview: Will the software company exceed earnings again?
US computer software company Oracle is due to report its latest earnings after the US close later, and again, its cloud computing area is seen as being a key driver of growth for the company.
Current estimates call for Q3 earnings of $1.37 per share, reflecting a 12.3% improvement relative to the same quarter last year. Oracle has exceeded the earnings mark in each of the past four quarters, delivering an average earnings surprise of 3.32% over that timeframe. Sales are anticipated to have risen 7.07% to $13.27 billion. IGTV’s Angela Barnes has more.
(AI Video Summary)
Oracle's earnings
Oracle, a leading computer software company in the US, is about to release its earnings report. One area that has been driving the company's growth is its cloud computing sector. Experts predict that Oracle's earnings for Q3 will be around $1.37 per share, showing a 12.3% increase compared to the same quarter last year. This consistent growth has had a positive impact on market sentiment, with Oracle beating earnings expectations in the past four quarters and even exceeding the average estimate by 3.32%.
Oracle share price
In terms of sales, Oracle is projected to have experienced a 7.07% increase to $13.27 billion. However, when we look at the stock chart, we see that the price of Oracle shares has been quite volatile on the tastylive platform. For instance, after the last quarterly report in December, where the company fell short of revenue estimates, the stock price dropped. But despite this dip, Oracle's stock has still managed to gain almost 9% since the beginning of the year.
Oracle's Q3
One of the key factors expected to contribute to Oracle's Q3 growth is its cloud computing sector. The company's ability to consistently exceed earnings expectations has garnered positive market sentiment and confidence in its potential for sustained growth. Analysts predict a 12.3% improvement in earnings per share compared to the previous year, along with a 7.07% increase in revenues. These optimistic projections underline the market's trust in Oracle's ability to leverage its cloud computing sector for continued success.
Although Oracle's stock has experienced fluctuations on the tastylive platform, particularly following its last quarterly report, where revenue estimates were missed, the stock has still managed to show a positive year-to-date performance, with nearly 9% gains. This suggests that while the company may face short-term setbacks, investors remain hopeful and confident in Oracle's long-term prospects.
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