oracle stock got smoked on its earnings report The shares were holding up well until the company revealed the extent of the damage from the foreign exchange market. The market focused more on the performance in constant currency metrics than it did on the impact of foreign exchange headwind. The strong U.S. dollar has been negatively impacted by the Fed's interest rate hikes. There was a panic sell-off in various U.S. companies with extensive international business. All of them had to cut their forward guidance. 30% of the revenues for companies in the S&P 500 are generated outside of the US. The strong U.S. dollar wiped out (-$0.08) per share offOracle's earnings, up from the original (-5%) earlier estimate in June. Performance numbers for the acquisition were included in the recent earnings release. The cloud and enterprise resource planning segment is still led by Oracle. Long-term investors could be in a good position to take advantage of the near-term sell-off.
MarketBeat.com - MarketBeat Real-time analysis, automation, data sharing, and management of an organization's business processes can be achieved through a suite of integrated applications. It uses robust databases to track a company's resources across all departments. The central nervous system is a part of an enterprise. Access to its database services for Microsoft and Amazon have been expanded. With notable wins, Oracle is a leading provider of enterprise resource planning.
The levels of the oracle are attractive.
The rifle charts give a medium-term view of the price action on ORCL stock. Earnings plunged through the weekly 5- period moving average and the 15- period MA. The swing is at afib. The weekly market structure low was the cause of the falling shares. The weekly lower Bollinger Bands are just under the $64.16fib level. As shares collapsed through the daily 5-period MA at $72.86, 15-period MA at $74.02, and the 50-period MA at $75.07, the daily rifle chart breakdown formed. The 40 band was rejected by the stochastic. The daily lowerBBs were tested. There are inverse pups in both weekly and daily stochastics, so it's important to watch the lowerBBs as potential supports. There are attractive levels at the $67.69 fib, $66.73 fib, $64.16 fib, and $61.67 fib.
It was juiced by the company.
The fiscal 2023 first-quarter results were released by the company on September 12th. The Company reported an earnings-per-share profit of $1.03 which was below analysts' estimates. In constant currency, revenues grew 22% to $11.45 billion, beating analyst estimates. According to Safra Catz, the "best revenue quarter in history" was achieved by Cerner. He pointed out that Oracle had 8% organic growth. The two cloud businesses now make up 30% of the total revenues. In constant currency, the various segments experienced double digit gains, including Cloud Infrastructure up 52%, Cloud Application up 42%, and FusionERP up 32%.
Both Microsoft and Amazon have cloud computing services.
In Q1 we expanded our relationship with Microsoft by providing all versions of the oracle database directly to microsoft azure customers All Microsoft customers can now access the oracle database from the azure cloud Amazon Web Services customers will be able to directly access the database in the Amazon cloud. Transaction processing, real-time analytics, and machine learning can be run on the single unifiedMySQL service. Up to 10X higher throughput than Aurora, 25X faster than Redshift, and 7X better price performance are just some of the benefits of theMySQL HeatWave. There is a press release for customer performance benchmarking.
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