Oracle whiffs on Q1 earnings (ORCL)
|09/15/2016||Posted by BusinessMediaguide.Com under General World News||
Oracle just reported its Q1, 2017 earnings and the news isn’t great.
- Q1 EPS $0.55 vs estimates of $0.58, a miss.
- It also reported revenues of $8.6 billion vs expectations of $8.7 billion, also a miss.
Stock is just a tad down in after-hours trading.
The bigger news is how well Oracle is doing with its cloud sales. That’s been the company’s major focus. It has said it wants to hit $10 billion in sales before Salesforce does. That’s a tall order. Salesforce is on track to do $8.3 billion in revenue at the end of this fiscal year.