The Clap
Oracle (NYSE:ORCL) recorded revenues of $12.28bn and an EPS of $1.21 during the company’s fiscal Q2 2022, beating estimates on both the top and bottom lines.
What
Despite better-than-expected earnings, Oracle’s forecast for the fiscal Q3 came in lighter than expected, with an expected EPS of $1.17 – $1.21 compared to the estimated $1.24.
So What
Foreign exchange rates had a significant impact on the company’s EPS. However, the company’s cloud infrastructure and cloud-based applications performed strongly, helping the company beat revenue estimates by $200 million.
Now What
The company’s stock ended the session down less than 1%
