Shares of technology giant Oracle (NYSE: ORCL) are up slightly in after-hours trading despite the company missing analysts’ earnings estimates for Fiscal Q1 2023, while revenue was in line with expectations.
Oracle posted non-GAAP earnings per share (EPS) of $1.03 ($0.56 GAAP EPS), missing estimates by $0.05. Revenue of $11.45 billion grew 17.7% year-over-year (23% on a constant-currency basis), meeting analysts’ expectations but beating Oracle’s own guidance by $200 million. Non-GAAP operating income grew just 3% year-over-year, reaching $4.5 billion. However, it grew 10% when adjusted for currency fluctuations.
At last check, ORCL stock is trading at $77.45 after closing at $77.08 during regular trading hours.
