The company reports August quarter results Monday. The heart of the story remains the boost to its cloud computing business from AI workloads.
Oracle has been one of the more surprising beneficiaries of this year’s investor frenzy over artificial intelligence stocks.
Street consensus estimates call for August quarter revenue of $12.4 billion, up 8.8% from a year earlier, with adjusted profit of $1.15 a share. On the company’s last earnings call, CEO Safra Catz said her early read on Oracle’s May 2024 fiscal year is for unprecedented cloud demand, with growth on par or better than FY 2023.
“Our checks remain highly bullish on OCI demand trends,” TD Cowen analyst Derrick Wood wrote in a research note previewing the quarter. “Shares have moved a good deal this year, but we still think the OCI story is underappreciated.” Wood maintains an Outperform rating and $137 target price on Oracle shares.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
1 Stock to Buy, 1 Stock to Sell This Week: Oracle, AppleStocks Analysis by Investing.com (Jesse Cohen) covering: Oracle Corporation, Apple Inc, Oracle Corp, Apple Inc DRC. Read Investing.com (Jesse Cohen)'s latest article on Investing.com
Weiterlesen »
Apple Stock, Adobe, Oracle, Moderna, Lennar, Inflation Data, and More to Watch This WeekThe Consumer Price Index is expected to be up 3.6%. Results from Oracle, Adobe, and Lennar. And a policy decision from the European Central Bank.
Weiterlesen »
Earnings Estimates Are Rising, a Welcome Sign for 2023 Market RallyStock advances have surprised many investors, partly because expectations for company earnings hadn’t kept up.
Weiterlesen »
These Teens Opened Roth IRAs Before They Could Even VoteEarnings from summer jobs can be invested for decades of tax-free growth.
Weiterlesen »
The Secret to Saving for Retirement: Start Before You’re 20Earnings from summer jobs can be invested for decades of tax-free growth.
Weiterlesen »
Just how much is the AI discourse helping stocks? An analyst scoured earnings calls for cluesMore S&P 500 index companies during the second quarter mentioned 'AI' than at any point since at least 2010, according to an analysis published on Friday.
Weiterlesen »