Abhoy Sarkar's Avatar
published in Blogs
Mar 11, 2022
Oracle (ORCL, $79.47) misses Q3 earnings expectations

Oracle (ORCL, $79.47) misses Q3 earnings expectations

Oracle  reported  third quarter earnings that were weaker than expected.  The software giant’s adjusted earnings came in at $1.13 per share, falling short of the Street expectations by 5 cents.

Revenues climbed  +4% to $10.5 billon. Organic revenue in application subscription products grew 10% to  $3.2 billion, and overall organic revenues rose +7%, the strongest in ten years.

The company’s Cloud division revenues exceeded $2.8 billion. Profit margins in the cloud segment  were 84%, which is similar that in the prior quarter.

Related Tickers: ORCL