Oracle's Stock Surges, Leading S&P 500 Gainers with Earnings Beat

Tuesday, 10 September 2024, 08:21

Oracle's stock surges 11.9%, leading S&P 500 gainers after an upbeat earnings report. This follows a strong performance in remaining performance obligations.
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Oracle's Stock Surges, Leading S&P 500 Gainers with Earnings Beat

Oracle's Stock Performance

Oracle shares are leading the S&P 500 by a wide margin on Tuesday after an upbeat earnings report. The software and cloud company's stock is up 11.9% in morning action.

Analyst Commentary

“So last quarter was an RPO (remaining performance obligations) beat, but a miss on everything else and the stock went up,” Melius Research analyst Ben Reitzes wrote. “Well, it proved foretelling anyway since Oracle delivered a clean beat and raise for the fiscal first quarter, putting some credibility behind its cloud push.”

Future Outlook

He sees a growing likelihood that Oracle will boost its fiscal 2026 outlook when it holds an analyst day on Thursday.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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