Oracle collapses on the stock market. The shares of the American technology ‘giant’ have fallen more than 12% on Wall Street after announcing worse results than the markets expected this Tuesday. In this way, the company’s shares were quoted on an average session on the stock market at 111.29 dollars (103.70 euros), 12.17% less than at the opening, leaving, therefore, a value of 15. 42 dollars (14.37 euros).
These movements occur after Oracle recorded a net profit of 2,420 million dollars (2,257 million euros) in its first fiscal quarter, ended August 31, which was equivalent to an increase of 56.3% compared to the earnings. recorded during the equivalent period of the previous year.
The turnover reached 12,453 million dollars (11,616 million euros), 8.8% more. By business segments, cloud services and technical service contributed 9,547 million dollars (8,905 million euros), 13.4% more, while cloud product licenses accounted for 809 million dollars (754 ,6). million euros) in revenue, 10.5% less.
For its part, hardware sales fell 6.4%, to 714 million dollars (666 million euros) and services sales stood at 1,383 million dollars (1,290 million euros), 1.6%. further.
Operating expenses grow
For its part, Oracle’s operating expenses grew by 3.8%, to 9,157 million dollars (8,542 million euros). The research and development item rose by 5.9%, to 2,216 million dollars (2,067 million euros), while the cloud services item did the same by 25.6% to remain at 2,179 million. dollars (2,033 million). of euros).
The cost of marketing and sales decreased by 6.9%, to 2,026 million dollars (1,890 million euros) and those of services provided rose by 15.1%, to 1,212 million dollars (1,131 million euros). ). Expenses derived from administration, hardware, restructuring, and amortization of intangible assets totaled 1,524 million dollars (1,422 million euros), 13.6% less.
“Autonomous cars, molecular drug design, personal voice assistants: billions of dollars are being invested in AI. As of today, AI development companies have signed contracts to acquire more than $4 billion [3.731 millones de euros] capacity in Oracle’s Gen2 Cloud,” said Oracle President and Chief Technology Officer Larry Ellison. “It’s double what we had anticipated at the end of the fourth quarter,” he added.
In addition, the company has approved a quarterly dividend of 0.40 dollars (0.37 euros) per share that will be paid to shareholders at the close of October 12 and payable on October 26.
