Oracle's (NYSE: ORCL) latest earnings report impressed investors on Dec. 12. For the second quarter of fiscal 2023, which ended on Nov. 30, revenues rose 18% year over year (25% in constant currency terms) to $12.3 billion and beat analysts' estimates by $260 million. Its adjusted earnings per share stayed flat at $1.21 but also cleared the consensus forecast by four cents.
Oracle's stock rose after the report but remains down more than 20% over the past 12 months. It still looks cheap at 16 times forward earnings and pays a decent forward dividend yield of 1.6%, but is it actually a good bear market buy?
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Source Fool.com