Why Oracle Stock Is Plunging Today

Oracle (NYSE: ORCL) stock is sinking in Tuesday's trading following the company's recent quarterly report. The tech giant's share price was down 6.8% as of 10:45 a.m. ET.After the market closed yesterday, Oracle published results for the second quarter of its current fiscal year, which ended Nov. 30. The company posted sales and earnings for the period that fell short of Wall Street's targets, and its forward guidance also missed the mark.Oracle reported non-GAAP (generally accepted accounting principles) adjusted earnings per share of $1.47 on sales of $14.1 billion. Meanwhile, the average analyst estimate had called for the business to deliver adjusted earnings of $1.48 per share on revenue of $14.1 billion. The company closed out the quarter with remaining performance obligations of $97 billion, representing a 49% annual increase.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool