Earnings

Oracle shares sink nearly 5% after third-quarter revenue miss

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Safra Catz, Oracle’s CEO and then one of Oracle’s two co-CEOs, smiles during Oracle’s OpenWorld conference in San Francisco on, Sept. 20, 2016.

David Paul Morris | Bloomberg | Getty Images

Oracle shares dropped nearly 5% after the enterprise tech giant reported its financial results for its 2023 fiscal third quarter.

Here’s how the company did:

  • Earnings: $1.22 per share, adjusted, vs. $1.20 per share as expected by analysts, according to Refinitiv.
  • Revenue: $12.40 billion vs. $12.42 billion as expected by analysts, according to Refinitiv.

Oracle’s overall sales jumped 18% year-over-year during its latest quarter.

For the third quarter ended Feb. 28, net income fell to $1.90 billion, or 68…



Source cnbc.com

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