Oracle falls even as guidance meets expectations

Oracle stock fell as much as 4 percent in extended trading on Thursday even though earnings beat estimates for the fiscal third quarter and the company provided a forecast that met expectations.

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Here are the key numbers:

Earnings: 87 cents per share, excluding certain items, vs. 84 cents per share, excluding certain items, as expected by analysts, according to Refinitiv.Revenue: $9.61 billion, vs. $9.59 billion as expected by analysts, according to Refinitiv.

Oracle’s revenue, disclosed in a statement, fell 1 percent from a year earlier in the quarter, which ended on Feb. 28.

With respect to guidance, Oracle CEO Safra Catz said the company is expecting earnings per share of $1.05 to $1.09, excluding certain items, and revenue that would be flat to down 2 percent in the fiscal fourth quarter. Analysts were looking for guidance of $1.05 in earnings per share, excluding certain items, and a 1 percent revenue drop, according to Refinitiv.

In the latest quarter, Oracle picked up business from Fair Isaac, Gap Stores and Jo-Ann Stores, CEO Mark Hurd said on a conference call on Thursday. Co-founder Larry Ellison pointed to « university researchers » switching to Oracle from cloud provider Amazon Web Services because of the opportunity cost savings.

Oracle shares are up 1.4 percent in the past year.

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Source: CNBC

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