{"id":135390,"date":"2024-12-10T09:05:31","date_gmt":"2024-12-10T02:05:31","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=135390"},"modified":"2024-12-10T09:05:31","modified_gmt":"2024-12-10T02:05:31","slug":"oracle-misses-quarterly-results-estimates-on-stiff-cloud-competition","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=135390","title":{"rendered":"Oracle misses quarterly results estimates on stiff cloud competition"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->By Zaheer Kachwala<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->(Reuters) -Oracle&#8217;s (<a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/ORCL\" data-ylk=\"slk:ORCL;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">ORCL<\/a>) second-quarter revenue grew less than Wall Street expected on Monday, hit by stiff competition among database and cloud services providers, sending its shares down more than 7% in extended trading.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->While seeing healthy growth in its cloud segment, Oracle competes with cloud heavyweights such as Microsoft and Amazon, which have established a large presence in the field.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Wall Street expectations for AI-linked firms have been high as they bet on the technology to be a strong growth driver in the future. The company&#8217;s shares have soared over 80% so far this year.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->&#8220;Oracle has a long history of beating estimates so even a small miss rattles Wall Street,&#8221; said Rebecca Wettemann, CEO of industry analyst firm Valoir, adding that analysts&#8217; expectations for AI companies are &#8220;overheated&#8221;.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Oracle reported revenue of $14.06 billion in the second quarter, up 9% from a year ago, but below estimates of $14.11 billion, as per data compiled by LSEG.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->To gain market share in the competitive environment, Oracle has partnered with these so-called cloud hyperscalers by embedding its database architecture within Microsoft&#8217;s Azure and Amazon&#8217;s web clouds, allowing customers to connect data across various applications.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->Oracle&#8217;s chief executive Safra Catz said total Oracle cloud revenue should top $25 billion in fiscal 2025 and reiterated that annual capital expenditure would be double this fiscal year.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->&#8220;While the Cloud business remained strong, it is requiring an exponential increase in capex, which is leading to margin pressure. We expect Oracle to remain a distant fourth hyperscaler in spite of this investment,&#8221; said DA Davidson analyst Gil Luria.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->The company has been pouring billions into upgrading its cloud infrastructure by buying hardware from chip giant Nvidia and setting up cloud facilities to close the gap with industry leaders.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->On an adjusted basis, the company earned $1.47 per share, compared with estimates of a profit of $1.48 per share. It forecast third-quarter adjusted EPS between $1.50 and $1.54, while analysts expected $1.57.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1pe5jgt\"><!-- HTML_TAG_START -->(Reporting by Zaheer Kachwala in Bengaluru; Editing by Alan Barona)<!-- HTML_TAG_END --><\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/news\/oracle-misses-second-quarter-revenue-210954502.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Zaheer Kachwala (Reuters) -Oracle&#8217;s (ORCL) second-quarter revenue grew less than Wall Street expected on Monday, hit by stiff competition among database and cloud services providers, sending its shares down &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=135390\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-135390","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/135390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=135390"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/135390\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=135390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=135390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=135390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}