Will Oracle Move Higher Post-Earnings?
T = Trends for a Stock’s Movement
Oracle is a provider of enterprise software and computer hardware products and services. The company’s software, hardware systems, and services businesses develop, manufacture, markets, host, and support database and middleware software, applications software, and hardware systems, with the latter consisting primarily of computer server and storage products. It is organized into three businesses: software, hardware systems, and services. Information technology products and services are seeing increasing demand due to the surge of companies in developing economies.
Oracle reported its fiscal first quarter earnings Wednesday evening, beating expectations for earnings but falling short on revenue. Oracle is battling reduced global demand for IT and smaller companies that provide software online. Software licenses and cloud subscriptions rose 5 percent, which was better than last quarter’s disappointing 1 percent, although Oracle’s hardware sales fell 13 percent year-over-year.