Oracle Corporation (NYSE:ORCL) is expected by Wall Street analysts to post higher revenue and profits when the cloud services provider reports its second quarter fiscal 2024 earnings after the market closes on Monday, December 11.
Its earnings per share (EPS) is expected to grow by 9.1% over the year-ago quarter to $1.32, according to Zacks Consensus Estimate.
Revenue is forecast to grow 6.2% from $12.28 billion to $13.05 billion.
Cloud services and license support revenue is expected to grow 24.7% year-over-year to $10.72 billion while services revenue is forecast to increase 1.4% to $1.41 billion.
On the other hand, cloud license and on-license revenue is expected to fall 15.2% year-over-year to $1.22 billion and hardware revenue is seen 11.5% lower than the prior quarter at $752.47 million.
Oracle said when handing down its 1Q results in September that it expects adjusted earnings per share of $1.30 to $1.34 for 2Q and revenue growth of 5% to 7%.
The weaker-than-expected guidance was not well received by investors at the time who sent the stock lower in extended trading.
Oracle shares traded hands at US$114.67 at noon on Monday ahead of its earnings report. The stock is up 33.8% in the year to date.
- Updated with share price movement -
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