Oracle Q2 earnings: 'not immune to macro backdrop'

Oracle Corp (NYSE: ORCL) tanked about 9.0% in extended hours even though it reported better-than-expected per-share earnings for its second financial quarter.

Why is Oracle stock down in after-hours?

The stock is being punished primarily because the quarterly revenue came in shy of Street estimates.

Oracle said its revenue from cloud and on-premise licenses, cloud services and license support, and services – all fell short of experts’ forecast in Q2. John DiFucci – a Guggenheim analyst recently told clients in a research note:

He sees upside in the tech stock to $150 which suggests close to a 45% upside from here.

Notable figures in Oracle Q2 earnings release

• Earned $2.5 billion versus the year-ago $1.74 billion
• Per-share earnings also climbed from 63 cents to 89 cents
• Adjusted EPS printed at $1.34 as per the press release
• Revenue jumped 5.0% year-over-year to $12.94 billion
• Consensus was $1.32 a share on $13.05 billion revenue

Oracle expanded its cloud collaboration with Microsoft Corp in its fiscal Q2. Its cloud infrastructure revenue popped 52% year-on-year to $1.60 billion in the recently concluded quarter. In his recent interview with CNBC, Sarat Sethi – Managing Director of DCLA said: