Enterprise software giant Oracle (NYSE: ORCL) will be reporting results this Wednesday afternoon. Here’s what to look for.
Oracle missed analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $14.93 billion, up 12.2% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ remaining performance obligation estimates but a slight miss of analysts’ revenue estimates.
Is Oracle a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Oracle’s revenue to grow 15.2% year on year to $16.19 billion, improving from the 8.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.64 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Oracle has missed Wall Street’s revenue estimates six times over the last two years.
With Oracle being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for data and analytics software stocks. However, investors in the segment have had steady hands going into earnings, with share prices flat over the last month. Oracle is down 7.8% during the same time and is heading into earnings with an average analyst price target of $330.49 (compared to the current share price of $222.05).
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