Oracle Corporation (ORCL) reported its third-quarter results on March 11. The company comfortably surpassed the consensus EPS estimate, but its revenue came below Wall Street estimates. In this piece, I have discussed why it could be prudent to buy the stock now despite missing the consensus revenue estimate.
For the third quarter, ORCL’s EPS was 2.4% above the consensus estimate, but its revenue was marginally lower than the analyst estimates. The company continued its stellar earnings history, beating the consensus EPS estimate in each of the trailing four quarters. Its Remaining Performance Obligations, which indicate booked revenue, rose by 29% to $80 billion in the third quarter.
