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

Oracle shares plummeted over 12% on Tuesday, headed for their worst day since 2002, after missing revenue estimates.
The plunge resulted in Oracle Chair Larry Ellison losing about $18 billion in wealth.
Oracle's Q1 earnings topped estimates but revenue fell short at $12.45 billion vs expected $12.47 billion.
Oracle issued weaker-than-expected guidance, forecasting Q2 revenue growth of just 5-7% vs expected 8%.
Oracle attributed revenue headwinds to its Cerner health records unit transitioning to the cloud from licensed purchases.

cnbc.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.

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Oracle Misses Revenue Expectations, Cloud Growth Continues as Cerner Acquisition Promises Health Sector Expansion

Oracle disappointed stock markets with slightly less than expected revenue for Q1 of 2024, while CTO Larry Ellison hinted at a closer partnership with Microsoft's Azure cloud platform.

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

Shares of Oracle Corp. are set to suffer their worst one-day performance in 21 years after the software and cloud services company reported disappointing earnings and provided a downbeat outlook for the next quarter.

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

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Posted 9/12/2023, 4:49:51 PM

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

Oracle shares plummeted over 12% on Tuesday, headed for their worst day since 2002, after missing revenue estimates.
The plunge resulted in Oracle Chair Larry Ellison losing about $18 billion in wealth.
Oracle's Q1 earnings topped estimates but revenue fell short at $12.45 billion vs expected $12.47 billion.
Oracle issued weaker-than-expected guidance, forecasting Q2 revenue growth of just 5-7% vs expected 8%.
Oracle attributed revenue headwinds to its Cerner health records unit transitioning to the cloud from licensed purchases.

cnbc.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.

9/12/2023

Oracle Misses Revenue Expectations, Cloud Growth Continues as Cerner Acquisition Promises Health Sector Expansion

Oracle disappointed stock markets with slightly less than expected revenue for Q1 of 2024, while CTO Larry Ellison hinted at a closer partnership with Microsoft's Azure cloud platform.

9/12/2023

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

9/12/2023

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