Oracle Earnings Report Causes Stock Price to Jump 13%

Oracle (ORCL) released its earnings report on Monday for its fiscal third quarter. The report showed better than expected earnings.

Earnings per share were expected to be $1.38, but the report revealed they were actually $1.41 per share. Revenue was down slightly from what was expected. The anticipated sales were $13.3 billion, but the company managed a close $13.28 billion in revenue.

The decent earnings report helped Oracle stock to shoot up by 13% to $128.50 per share. The corporate tech company is now poised to have an excellent fourth quarter.

For that upcoming quarter, Oracle is expecting to bring in around $1.64 per share. The company also anticipates that its revenue will grow about 5% for the year.

Stock Market Index Summary

How is the wider market faring as Oracle enjoys the results of a positive earnings report? The Dow Jones Industrial closed up only 0.12%. The Nasdaq Composite didn’t fare as well, closing down by 0.41%. The S&P 500 was down as well, but only by 0.11% by the end of trading on Monday.

We expect a similarly mixed opening for Tuesday, as the markets anticipate the US CPI report. That Consumer Price Index will be released later in the day for Tuesday and will serve as an indicator as to whether inflation is up or down.

A number of companies are expecting their earnings reports to be released on Tuesday. Watch for earnings reports from Kohl’s, IHS Holdings, Biomea Fusion, Tyra Biosciences, and others to be issued later on.

Oracle may continue to trade well today and then taper off over the next few days as interest in its earnings report dies down. As the company is geared to have an excellent next quarter, this could prove to be a sound investment for traders hoping for long-term investments that will diversify their portfolios.

ABOUT THE AUTHOR See More

Timothy St. John

Financial Writer - European & US Desks

Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.

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