Oracle Stock ( NYSE:ORCL )
Oracle ( NYSE:ORCL ) is planning to release its financial results for the company’s second fiscal quarter after trading has closed. Investment firm Monness, Crespi, and Hardt is anticipating “average” seasonality for revenue and earnings growth, which will be led by the cloud services provided by the company.
Analyst Brian White, who has a buy recommendation on Oracle stock, said that the business gives investors a “high-quality, value play” with the chance to acquire exposure to the cloud and other digital contemporary projects, especially in the healthcare area, courtesy of its recent purchase of Cerner. Having said that, and considering all that has been said, it is anticipated that the increase in revenue for the second quarter will be comparable to that of previous periods.
White said in a letter to clients that “Our [fiscal 2023 second-quarter] revenue forecast assumes a 5% [quarter-over-quarter] increase,” which is equivalent to the four-year average sequential growth for previous November quarters.
According to the projections of the industry expert, Oracle will bring in sales of $12.04 billion and have adjusted profits per share of $1.21. Wall Street analysts have concluded that Oracle (ORCL) will post a profit of $1.17 per share on sales of $12 billion. This estimate does not take into account any one-time factors.
Digging further, it is probable that the purchase of Cerner on June 8 will maintain muddling year-over-year growth rates in Oracle’s (ORCL) divisions and critical measures. However, cloud licensing and on-premise revenue should trend lower to $1.18 billio...
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