Why Oracle Stock Is Plummeting Today
(NYSE: ORCL) stock is seeing big sell-offs in Tuesday's trading. The company's share price was down 12% as of 2:15 p.m. ET, according to data from S&P Global Market Intelligence.
Oracle published mixed results for the second quarter of its current fiscal year, which ended Nov. 30, after the market closed yesterday. The company posted non-GAAP (adjusted) earnings per share of $1.34 on revenue of $12.94 billion. While the company's profit beat the average analyst estimate's call for per-share earnings of $1.33, sales in the period missed Wall Street's target by $110 million.
Oracle's revenue climbed roughly 5% year over year in the second quarter of the current fiscal year, and adjusted earnings per share rose roughly 11%. While the company's top- and bottom-line growth look solid enough at first glance, a closer look at the performance suggests that the tech giant isn't keeping pace in key categories.
Source Fool.com
Oracle Corp. Stock
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