Why Oracle Stock Is Sinking Today
Shares of Oracle (NYSE: ORCL) are sliding on Tuesday. The stock lost 3.2% as of 2:45 p.m. ET today and was down as much as 7.5% earlier in the day. The drop comes as the S&P 500 declined 0.5% and the Nasdaq Composite gained 0.2%.The tech company reported mixed quarterly results that fell short of expectations while providing ambitious long-term projections.Oracle announced third-quarter earnings of $1.47 per share on sales of $14.1 billion. Both figures missed Wall Street estimates of $1.49 per share and $14.4 billion in revenue. Adjusted earnings increased just 4% year over year (YOY) while sales gained 6% YOY.Continue reading
Shares of Oracle (NYSE: ORCL) are sliding on Tuesday. The stock lost 3.2% as of 2:45 p.m. ET today and was down as much as 7.5% earlier in the day. The drop comes as the S&P 500 declined 0.5% and the Nasdaq Composite gained 0.2%.
The tech company reported mixed quarterly results that fell short of expectations while providing ambitious long-term projections.
Oracle announced third-quarter earnings of $1.47 per share on sales of $14.1 billion. Both figures missed Wall Street estimates of $1.49 per share and $14.4 billion in revenue. Adjusted earnings increased just 4% year over year (YOY) while sales gained 6% YOY.
