The bulls have been running on Wall Street but every silver lining apparently is cloaked in a gray cloud. In this case, it’s the dismal Q3 earnings report Oracle released on Wednesday. Oracle did actually make money. The company reported third quarter earnings of $2.5 billion, or 52 cents a share, on revenue of $8.96. However, that was down 1 percent from a year earlier. Wall Street analysts were looking for earnings of around 66 cents a share on revenue of $9.38 billion. Could this be a portent that the bull market could see corrections very soon?
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Oracle's Q3 Malaise Could Be Contagious
Posted by: Peter Suciu March 21, 2013 12:48 PMThe bulls have been running on Wall Street but every silver lining apparently is cloaked in a gray cloud. In this case, it’s the dismal Q3 earnings report Oracle released on Wednesday. Oracle did actually make money. The company reported third quarter earnings of $2.5 billion, or 52 cents a share, on revenue of $8.96. However, that was down 1 percent from a year earlier. Wall Street analysts were looking for earnings of around 66 cents a share on revenue of $9.38 billion. Could this be a portent that the bull market could see corrections very soon?