Why Oracle Stock Is Soaring Today
(NYSE: ORCL) stock is jumping in Tuesday morning trading. The company's share price was up 12.3% as of 11:30 a.m. ET, according to data from S&P Global Market Intelligence.
After the market closed yesterday, Oracle published results for the first quarter of its current fiscal year (which ended Aug. 30). The company beat Wall Street's sales and earnings for the period, and it also announced promising new cloud partnerships with Amazon and Alphabet.
Oracle posted non-GAAP (generally accepted accounting principles) adjusted earnings per share of $1.39 on revenue of $13.3 billion in fiscal Q1. The company's earnings performance beat the average analyst target by $0.06 per share, and sales came in $60 million above the average target.
Source Fool.com
Oracle Corp. Aktie
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