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March 26, 2008
Oracle's Earnings Miss: They Shoot Tech Stocks, Don't They?
Unless I'm missing something, Oracle has missed in afterhours. Consensus earnings estimate was $0.30 and the company delivered $0.26. Revenue is a little light too. Stock is down 8% in late trading.
I feel better about my ORCL bearishness this morning on CNBC. I'm heading into meetings, so feel free to add color or corrections.
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$0.26 was the GAAP figure. Non-GAAP, which is what the analysts were forecasting, was $0.30 and thus in-line. Revenues however were indeed light.