Oracle Drops Almost 5% After Missing Q3 Revenue

  • last year
Oracle ($ORCL@US) shares dropped nearly 5 percent after the enterprise tech giant missed its fiscal third-quarter 2023 revenue targets. Earnings per share were $1.22 versus the $1.20 per share expected, and revenue was $12.40 billion versus 12.42 billion expected. Oracle’s overall sales rose 18 percent year-over-year during its latest quarter. For the third quarter ending on February 28th, Oracle’s net income fell to $1.90 billion, or 68 cents a share, from $2.32 billion, or 84 cents a share, a year earlier.

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