Investors got some mixed news on Sept. 12 when Oracle (NYSE: ORCL) posted its fiscal 2023 first-quarter earnings report (for the quarter ending Aug. 31).
The database software giant's revenue, boosted by its acquisition of Cerner in June, rose 18% year over year (23% in constant currency terms) to $11.45 billion, and met analysts' expectations. But its adjusted net income fell 4% to $2.83 billion, while its adjusted earnings per share -- buoyed by buybacks -- stayed flat year over year at $1.03 and missed the consensus forecast by four cents. On a GAAP (generally accepted accounting principles) basis, its net income declined 37% year over year to $1.55 billion, or $0.56 per diluted share.
Those numbers were a bit messy and left some wondering what it all means for Oracle stock. So let's cut through the noise and see if Oracle's shares are still worth buying in this tough market for tech stocks.
Source Fool.com