Oracle shares: can the company see continued benefit from the hybrid/flexible work model?
US software giant Oracle is scheduled to release its fiscal first quarter 2024 earnings results after the market closes tonight.
Two things to watch: an accelerated digital transformation, along with the continuation of remote work and mainstream adoption of the hybrid/flexible work model, which is expected to have driven demand for Oracle Cloud Infrastructure services and any extra benefits from the acquisition of Cerner in 2022. Has it bolstered the company's position in the lucrative healthcare domain?
(Video Transcript)
Oracle Q1 report
The software giant, Oracle, is due to report its fiscal first quarter 2024 results after the market closes tonight. Let's take a look at what we're expecting for the business. Analysts are estimating earnings per share at $1.14 on revenues of $12.45 billion, which would represent an increase of 8.8% year over year.
Two things to watch, accelerated digital transformation, according to analysts, along with the continuation of remote work and mainstream adoption of a flexible hybrid work model. It's expected to have driven demand for Oracle cloud infrastructure services.
The acquisition of Cerner
And secondly, investors want to see how the acquisition of Cerner in 2022 has bolstered the company's position in the lucrative health care domain. This isn't all session stock on the IT platform, and it is possible to look at shares at the start of the session at nine o'clock trading day today. Not too far away from record highs in the stock. I want to take a look at the long term picture for Oracle just to show you what's been happening.
Larry Ellison
If I lift this up here to these record highs up here, you can see that we're not too far away from all time record high at $1.2780. The stock will open at $1.2636. Larry Ellison continues to lead this business. He founded it back in the 70s. One of the longest serving hands on CEOs in the global tech world.
And he's done a tremendous job in continuing to lead this company to higher highs. And there's no reason why it can't continue. I think if we get some good news out tonight on those two areas I highlighted, then potentially I think we've got the impetus needed to see a break of this high level here established there as a record high back on the 16th of June.
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