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Tue, December 10, 2024
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[ 10:21 AM ] - Kiplinger
Oracle Stock Is Sinking After Earnings. Here's Why

Oracle Stock Is Sinking After Earnings. Here's Why


Published on 2024-12-10 10:21:06 - Kiplinger
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  • Oracle stock is lower Tuesday after the tech giant fell short of earnings expectations for its fiscal second quarter. This is what you need to know.

Oracle Corporation's stock experienced a significant decline following its latest earnings report, despite the company reporting better-than-expected earnings per share (EPS) and revenue. The drop was primarily due to concerns over Oracle's future growth prospects, particularly in its cloud services segment. Although Oracle's cloud revenue grew, it did not meet the high expectations set by analysts, especially when compared to competitors like Amazon Web Services and Microsoft Azure. Additionally, Oracle's guidance for the next quarter was underwhelming, suggesting a slowdown in growth. Investors were also wary of the company's heavy reliance on its legacy database business, which is facing increasing competition and market saturation. The market's reaction reflects broader concerns about Oracle's ability to maintain its competitive edge in the rapidly evolving cloud computing landscape.

Read the Full Kiplinger Article at:
[ https://www.kiplinger.com/investing/stocks/oracle-orcl-stock-is-sinking-after-earnings-heres-why ]
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