Oracle (ORCL) Stock Drops After Earnings

Oracle (ORCL) shares drop after mixed earnings. ORCL’s 1Q adjusted EPS came in at $1.19 versus an estimated $1.14 and revenue came in at $12.45B versus an estimated $12.45B. Its cloud services and license support revenue came in at $9.5B. Renita Young discusses these earnings as ORCL’s cloud revenue grew 30% year-over-year. DA Davidson cuts ORCL’s price target to $104 from $115 and keeps a neutral rating. ORCL sees its 2Q adjusted EPS between $1.27-$1/31 and revenue growth between 5-7%. Tune in to find out more about the stock market today.