Oracle Corporation (ORCL), the software giant, unveiled its fiscal fourth-quarter and full-year earnings yesterday, on June 11, 2024, falling short of consensus revenue and EPS estimates. In this piece, I have discussed why it could be wise to wait for a better entry point in the stock now.
In the fourth quarter ending May 31, 2024, ORCL reported a 3.3% year-over-year increase in total revenues, reaching $14.29 billion, which was below Wall Street's expectation of $14.57 billion. The cloud services and license support segment revenue amounted to $10.23 billion (up 9% year-over-year), while the cloud and on-premises licenses business contributed $1.84 billion in revenue.
