Oracle is set to announce Q3 results with high expectations despite recent revenue misses.

From Nasdaq.:

Oracle (NYSE: ORCL) is set to announce its fiscal Q3 2024 results on March 11. Expectations are high as the tech giant beat earnings but missed revenue estimates last quarter. Revenues grew by 5% y-o-y, mainly driven by cloud services & license support, but cloud license & hardware divisions saw declines. ORCL stock has outperformed the S&P 500 consistently in recent years.

For the first two quarters of FY2024, Oracle’s revenues increased by 7% y-o-y to $25.4 billion, driven by cloud & license revenue growth. Trefis estimates Q3 2024 revenues to be around $13.38 billion, slightly higher than the consensus estimate of $13.31 billion. Annual revenue forecast for FY2024 stands at $53.5 billion.

Adjusted earnings per share (EPS) for Oracle in Q3 FY2024 are forecasted at $1.40, just above the consensus estimate of $1.38. Net income rose by 50% y-o-y to $4.9 billion in the first half of FY2024, mainly due to revenue growth and reduced operating expenses. A GAAP EPS of $4.02 is expected for FY2024.

Trefis values Oracle at $123 per share, 3% higher than the current market price, based on a P/E multiple of just under 31x for fiscal 2024. The stock has shown strong performance, with cumulative total returns of 192% since 2017. Consider investing with Trefis Market-Beating Portfolios for potential high-quality returns.



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