Skip to main content

Market Overview

Oracle Shares Drop After Q2 Sales Miss

Share:
Oracle Shares Drop After Q2 Sales Miss

Oracle Corporation (NYSE: ORCL) shares were trading down in Thursday's after-hours session following a second-quarter sales miss. 

Adjusted earnings came in at 90 cents per share, beating estimates by 2 cents. Sales came in at $9.6 billion, missing estimates by $50 million.

"We had another strong quarter in our Fusion and NetSuite cloud applications businesses with Fusion ERP revenues growing 37% and NetSuite ERP revenues growing 29%," Oracle CEO Safra Catz said in a statement. 

"This consistent rapid growth in the now multibillion dollar ERP segment of our cloud applications business has enabled Oracle to deliver a double-digit EPS growth rate year-after-year. I fully expect we will do that again this year."

Oracle shares were down 1.63% at $55.55 at the time of publication. 

Oracle Executive Chairman Larry Ellison. Photo courtesy of Oracle. 

 

Related Articles (ORCL)

View Comments and Join the Discussion!

Posted-In: Safra CatzEarnings News After-Hours Center Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com