Oracle (ORCL) reported its third quarter earnings after the bell on Tuesday, beating expectations on the top and bottom lines, while raising its 2027 revenue guidance to $90 billion, sending the company’s stock higher.
Shares jumped as much as 10% during premarket trading on Wednesday
The announcement comes amid reports that the company has axed plans to expand an AI data center with OpenAI (OPAI.PVT) and that it’s preparing to cut thousands of jobs.
In the first quarter, revenue is expected to be flat to up 2% year over year to a range of $117 million to $120 million, compared to $124 million expected.
Groupon’s CEO Dusan Senkypl attributed some of the weakness to demand challenges in the online discount marketplace’s non-paid channels.
“The pace of growth improvement in 2026 will be more moderate than the trajectory we were building toward,” Senkypl said. “The headwinds I described in organic, owned, and enterprise channels are addressable, and we have clear action plans against each, but the fixes will take time to compound.”
In the fourth quarter, earnings per share of $0.17 were in line with Wall Street estimates. Revenue of $132.7 million missed the Street’s forecast of $136.5 million.
