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Oracle Q4 Earnings Preview: Analyst Estimates, Key Items To Watch Including Cloud Infrastructure Momentum, AI Partnerships
Software company Oracle Corporation (NYSE:ORCL) is set to report fourth-quarter financial results after the market close on Tuesday, June 11, 2024.
Here is a look at the earnings estimates and key items to watch.
Earnings Estimates: Analysts expect Oracle to report fourth-quarter revenue of $14.59 billion according to data from Benzinga Pro.
The revenue estimate represents an increase over last year's fourth-quarter total of $13.84 billion.
Oracle has missed analysts' revenue estimates in three straight quarters and missed estimates in five of the last 10 quarters.
Analysts estimate Oracle will report fourth-quarter earnings per share of $1.65 compared to $1.67 in last year's fourth quarter. The company has beaten analysts' earnings per share estimates in six straight quarters and eight of the past 10 quarters.
What Analysts Are Saying: Momentum around large and long-term deals could help Oracle continue momentum in the fourth quarter, Morgan Stanley analyst Keith Weiss said.
The analyst, who has an Equal-weight rating and $155 price target, said forward estimates for Oracle have been largely unchanged year-to-date.
Weiss said investors ...