Oracle Shares Plunge Over 13% on Weak Earnings Report, On Pace for Worst Day in 21 Years

Oracle stock plunged over 13% on Tuesday, on track for worst day in 21 years
Revenue missed expectations and guidance was weak in latest earnings report
Stock dropped over 11% in premarket trading after earnings released Monday
Share price closed at record high $126.71 on Monday before earnings miss
Oracle stock has still gained over 34% year-to-date despite Tuesday's steep decline

marketwatch.com

Relevant topic timeline:

9/11/2023

Oracle's Revenue Misses Expectations Despite Growth in Cloud Business

Oracle shares dropped by about 5% in extended trading after the company reported slightly lower-than-expected fiscal first-quarter revenue, although earnings per share were better than anticipated.

9/11/2023

Oracle Revenue Misses Expectations as Cloud Spending Slows

Oracle narrowly missed market expectations for first-quarter revenue due to reduced spending on cloud services, leading to a drop in shares, but the company's advancements in networking technology make it well-suited to capture AI workloads and potentially boost its cloud infrastructure business.

9/12/2023

Oracle Stock Slips on Weak Guidance Despite AI Potential

Oracle's stock is facing a decline, but now is a good time to invest in its AI potential.

9/12/2023

Oracle Shares Plunge Over 12%, Ellison Loses $18 Billion as Revenue Falls Short

Oracle's shares plunged more than 12% and its Chair, Larry Ellison, lost $18 billion in wealth following disappointing revenue and weaker-than-expected guidance, despite the company's focus on artificial intelligence and cloud services.

9/12/2023

Stocks Mixed After Earnings: Oracle Slumps, WestRock Gains on Merger, Apple Dips Before Event

Oracle shares dipped 13.5% after disappointing earnings and revenue guidance, while WestRock rose 2.8% following news of a merger with Smurfit Kappa, and Apple shares fell 1.8% ahead of the launch event for its new iPhone.

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Posted 9/12/2023, 2:23:00 PM

Oracle Shares Plunge Over 13% on Weak Earnings Report, On Pace for Worst Day in 21 Years

Oracle stock plunged over 13% on Tuesday, on track for worst day in 21 years
Revenue missed expectations and guidance was weak in latest earnings report
Stock dropped over 11% in premarket trading after earnings released Monday
Share price closed at record high $126.71 on Monday before earnings miss
Oracle stock has still gained over 34% year-to-date despite Tuesday's steep decline

marketwatch.com

Relevant topic timeline:

9/11/2023

Oracle's Revenue Misses Expectations Despite Growth in Cloud Business

Oracle shares dropped by about 5% in extended trading after the company reported slightly lower-than-expected fiscal first-quarter revenue, although earnings per share were better than anticipated.

9/11/2023

Oracle Revenue Misses Expectations as Cloud Spending Slows

9/12/2023

Oracle Stock Slips on Weak Guidance Despite AI Potential

Oracle's stock is facing a decline, but now is a good time to invest in its AI potential.

9/12/2023

Oracle Shares Plunge Over 12%, Ellison Loses $18 Billion as Revenue Falls Short

9/12/2023

Stocks Mixed After Earnings: Oracle Slumps, WestRock Gains on Merger, Apple Dips Before Event