Oracle Stock Falls On Earnings Report As Cloud Transition Pain Remains [Investor's Business Daily]
Salesforce, Inc. (CRM)
Last salesforce, inc. earnings: 2/25 04:06 pm
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Source: Investors Business Daily
Related news Oracle ( ORCL ) stock fell Tuesday following its quarterly earnings report late Monday that missed estimates, with company guidance that failed to excite, as struggles with a transition to cloud computing continue. X Oracle stock was down as much as 4% in early trading but regained some of that ground. Shares were off 1.3%, near 48.52, during morning trading on the stock market today . Oracle stock has now fallen for the fifth quarter in a row in reaction to its earnings report. After the market close Monday, Oracle reported fiscal first-quarter results that slightly missed revenue estimates. Oracle has now missed sales views in seven of the past 13 quarters. The company beat predictions on adjusted earnings, attributed to tax cuts and stock buybacks. Oracle estimated revenue for the current quarter of about $9.5 billion, down 1% from the year-ago quarter. It expects adjusted earnings of 78 cents, up 12%. Oracle is undergoing a shift in its product portfolio .
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