Oracle's "nothing Burger" Causes Heartburn For Investors

Shares of Oracle (NYSE: ORCL) tumbled 7% on June 20, after the tech giant followed up decent fourth-quarter numbers with soft sales guidance for the current quarter and a questionable shift in its cloud reporting methods. Oracle's revenue rose 3% annually to $11.3 billion, which beat estimates by $60 million. Its non-GAAP earnings rose 11% to $0.99 per share, clearing expectations by $0.05.However, Oracle expects its revenue to rise just 1.9% to 2.9% on a constant currency basis for the current quarter, compared to expectations for 3.3% growth.

Topics:  oracle nyse   orcl    iaas   paas   images   oracle   service   revenue   rose   quarter   expectations   cloud   current   reporting   
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