Oracle Stock Slumps Premarket After Cloud Sales Growth Slows

By George Stahl, Deputy Corporate Coverage Chief

Shares of Oracle (ORCL) slid in premarket trading after the software giant reported quarterly sales that underwhelmed investors. Revenue rose 9% to $12.45 billion, in line with analyst estimates. Cloud revenue continued to drive the growth, rising 30% on the year, but that represented a slower rate than in the previous and year-earlier quarters. The company also gave a lackluster sales outlook for the current quarter.

Underwhelming Sales Performance

• Oracle’s quarterly sales figures have disappointed investors, causing a drop in stock prices.
• Revenue increased by 9% to $12.45 billion, meeting analyst predictions.
• Cloud revenue, which has been driving growth, rose by 30% compared to last year.
• However, this growth rate is slower than in previous quarters.

Poor Outlook for the Current Quarter

Oracle’s sales outlook for the current quarter is not promising, further impacting investor sentiment.

• The company’s forecast for future sales is lackluster.
• Investors may be concerned about the company’s ability to sustain growth in the near term.

Overall, Oracle’s underwhelming sales performance and poor outlook for the current quarter have led to a decrease in stock prices. Investors will be closely monitoring the company’s future performance to determine if this is a temporary setback or a sign of larger issues.