CNBC March 11, 2024
Key Points
– Oracle reported an earnings beat in its quarterly results.
– However, revenue came in a bit light of expectations.
– The company’s cloud services and license support segment, its largest business, saw a 12% increase in revenue.
Oracle reported quarterly earnings on Monday that exceeded Wall Street’s expectations. Shares rose 13% in extended trading.
Here’s how the company did in the fiscal third quarter ending Feb. 29, compared to estimates by LSEG, formerly known as Refinitiv:
- Earnings per share: $1.41 adjusted vs. $1.38 expected
- Revenue: $13.28 billion vs. $13.3 billion expected
For the fiscal fourth quarter, Oracle said it expects earnings of $1.62 to $1.66 per share. Analysts were expecting $1.64 in adjusted earnings per...
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