Oracle's Q4 earnings missed estimates, but strong sales outlook drives shares up

From Nasdaq: 2024-06-12 11:00:00

Oracle reported weak fourth-quarter fiscal 2024 results, missing earnings and revenue estimates. Shares rose 9% on strong booking and solid revenue outlook for fiscal 2025. Earnings per share were $1.63, revenues rose 3% to $14.3 billion. Sales contracts increased by 44% to $98 billion, with major AI sales totaling over $12.5 billion.

Oracle expects strong AI demand to drive fiscal 2025 sales growth, with cloud unit capacity growing over 50%. Large cloud infrastructure deals with Microsoft, OpenAI, and Google aim to enhance cloud computing business. First-quarter revenue growth is projected at 5-7%, with earnings per share estimated between $1.31 and $1.35.

Investors interested in Oracle should consider ETFs with exposure to the software giant, including Pacer Data and Digital Revolution ETF, iShares Expanded Tech-Software Sector ETF, Fidelity Cloud Computing ETF, First Trust Innovation Leaders ETF, and Themes Cloud Computing ETF. Each ETF provides unique exposure to Oracle and associated technology companies, offering potential for growth and diversification.



Read more at Nasdaq: ETFs in Focus Following Oracle’s Q4 Earnings