Oracle Stock Gains after Solid Q2 Earnings Report

Shares of Oracle (NYSE:ORCL) gained nearly 3% in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at $1.21 per share, which beat analysts’ consensus estimate of $1.17 per share.

Sales increased by 18% year-over-year, with revenue hitting $12.3 billion. This beat analysts’ expectations of $11.95 billion.

Overall, Wall Street has a consensus price target of $89.05 on ORCL stock, implying 9.56% upside potential, as indicated by the graphic above.

Disclosure