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Apps & Software

Oracle & Surprisingly Light Revenues (ORCL)

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By Douglas A. McIntyre Published
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Larry Ellison & Co., a.k.a. Oracle Corp. (NASDAQ: ORCL), is seeing shares hit rather hard in after-hours trading.  Shares closed down 0.6% at $20.94, which was above that 200-day moving average we had cited.

The enterprise software giant posted $0.30 EPS, in-line with First Call estimates of $0.30.  But revenues came in a tad light at $5.35 Billion, under the $5.42 Billion estimate.  Its software revenues also came in at $4.24 Billion as service revenues were $1.11 Billion.  Wall Street wasn’t expecting light revenues out of Oracle, particularly with the currency benefits.

That 200-day moving average is probably going to be a resistance level for a while now.  Shares are down almost 8% to $19.29 in after-hours trading.  It’s probably a safe bet that analysts either take down target prices tomorrow if they don’t issue outright downgrades on "merger integration issues."

Unless Larry Ellison says something major on the earnings conference call, this one is probably range-bound for a while.

Jon C. Ogg
March 26, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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