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Oracle (ORCL) is set to announce its third-quarter earnings for the 2024 fiscal year after the closing bell on Monday, March 11, which will show how the company’s cloud revenue is faring and could offer insight into its data center expansion to meet demand amid the artificial intelligence (AI) boom.
Analysts project Oracle’s revenue to come in at $13.28 billion for the third quarter of fiscal 2024, up from the previous quarter and year-ago period, according to estimates compiled by Visible Alpha.
Net income is expected to be $2.74 billion, an increase from $1.9 billion in the fiscal third quarter of 2023, while diluted earnings per share (EPS) are projected at $1.37, compared to $1.22 in the same period a year earlier.
When Oracle reported results for the previous quarter in December, shares fell after the company missed cloud growth expectations.
Cloud revenue came in at $4.8 billion for the second quarter of …
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