Oracle (ORCL.US) to Release Q2 Results, Can "AI+Cloud" Continue to Shine

Market IntelSunday, Dec 8, 2024 11:10 pm ET

1min read

Oracle (ORCL.US) will report its second-quarter earnings after the market closes on Monday, December 9, and analysts are closely watching the tech giant's growth in cloud services revenue.Analysts expect Oracle to report Q2 revenue of $14.13 billion, up 9% YoY; net profit of $3.05 billion, or $1.07 per share. In comparison, the company's net profit in the same period last year was $2.5 billion, or $0.89 per share. Its largest business, cloud services, is expected to generate revenue of $5.98 billion, up 25% YoY.Oracle's stock rose 2.93% to close at $191.69 on Friday. The stock has surged more than 80% this year, hitting a record high, driven by the AI boom. Last quarter, Oracle's earnings beat analysts' expectations, and the company said demand for training large language models in the cloud surged.Overall, Wall Street analysts rate Oracle "moderate buy," with an average target price of $181.93, 5% lower than the current level.

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