On Monday, Oracle (NYSE:ORCL) announced quarterly earnings of $1.19 per share, outperforming the consensus of $1.14 per share. This represents an increase from last year's earnings of $1.03 per share for the same period, adjusted for non-recurring items. This report marks the fourth consecutive quarter that Oracle has exceeded consensus EPS estimates.
The software giant reported revenues of $12.45 billion for the quarter ending in August 2023. This aligns with the consensus and shows an increase from the previous year's revenue of $11.45 billion. Over the past four quarters, Oracle has surpassed consensus revenue estimates three times.
Oracle's stock has seen significant growth this year, with shares increasing by approximately 54.5%, compared to the S&P 500's gain of 16.1%. Despite this strong performance, Oracle's future stock movements will largely depend on management's commentary on the earnings call and future earnings expectations.
The company's earnings outlook is a critical factor for investors considering what lies ahead for Oracle. This includes not only current consensus earnings expectations for upcoming quarters but also recent changes to these expectations. Research indicates a robust correlation between near-term stock movements and trends in earnings estimate revisions.
The current consensus EPS estimate is $1.33 on revenues of $13.21 billion for the upcoming quarter and $5.51 on revenues of $53.85 billion for the current fiscal year. Investors are advised to consider industry outlook as it can significantly impact the performance of the stock.
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