Oracle comes up short on revenue but touts AI cloud contracts

CNBC September 11, 2023
Jordan Novet

Key Points

– Oracle fell short on license and hardware revenue in the fiscal first quarter.

– Quarterly revenue guidance was also weaker than expected.

– The company announced new database hardware and artificial-intelligence software features during the quarter.

Oracle shares moved 9% lower in extended trading on Monday after the database software maker disclosed revenue and revenue guidance that were lighter than expected.

Here’s how the company did:

• Earnings: $1.19 per share, adjusted, vs. $1.15 per share as expected by analysts, according to LSEG.
• Revenue: $12.45 billion, vs. $12.47 billion as expected by analysts, according to LSEG.

With respect to guidance, Oracle called for adjusted net income of $1.30 to $1.34 per share and 5% to 7%...

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