Oracle Stock Drops Despite Beating Earnings Expectations Due to Concerns Over Growth
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Oracle's earnings and revenue for the quarter beat or met analyst expectations.
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However, Oracle's stock fell over 9% in after-hours trading due to lackluster results.
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Oracle's cloud services revenue grew 30% but older business lines struggled.
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Analysts cited Oracle's AI capabilities as a potential growth driver despite muted reaction to earnings.
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Oracle stock has been climbing ahead of earnings, up over 50% for the year before Monday's drop.