By Ty Roush
Publication Date: 2025-12-11 16:05:00
Topline
Larry Ellison fell down the rankings of the world’s richest people on Thursday, falling to No. 3, as Oracle shares posted their worst daily decline in nearly a year after the cloud services company reported quarterly revenue that fell short of Wall Street expectations.
The cloud services giant reported quarterly revenue that fell short of Wall Street expectations.
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Important facts
Shares of Oracle fell 13.1% to around $193.80 at about 10:45 a.m. EST on Wednesday, marking the stock’s biggest intraday loss since shares fell 13.7% in January.
According to FactSet, Oracle shares plunged after the company reported revenue of $16 billion in its most recent quarter, below analysts’ estimates of $16.1 billion. The company reported software revenue of $5.8 billion, below forecasts of just over $6 billion.
Despite a lack of software revenue, Oracle’s cloud revenue rose 34% to $7.97 billion in the second quarter, beating estimates of $7.92 billion.
The…
