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published in Blogs
Dec 13, 2022
Oracle (ORCL, $80.18) beats fiscal Q2 expectations

Oracle (ORCL, $80.18) beats fiscal Q2 expectations

Oracle posted its fiscal second-quarter adjusted earnings of  $1.21 a share, beating analysts’ expectations of $1.17 a share (according to FactSet). The cloud giant’s revenue came in at $12.28 billion, vs. analysts’ forecast of $11.96 billion (according to FactSet.).

For the fiscal third quarter, CEO Safra Catz said revenue growth should be 17% to 19% from last year, (implying a revenue range of around $12.3 billion to $12.5 billion). Catz  indicated that the company is expecting adjusted earnings of $1.17 a share to $1.21 a share, vs. analysts’ expectations of  $1.23 a share (according to FactSet).

Oracle growth prospects look healthy, with the company completing its acquisition of healthcare-focused company Cerner in a $28 billion deal. The company recently bagged a part of a recent Defense Department contract after suing to halt an earlier version of that award.

Related Tickers: ORCL