13 September 2022 | Announcements

Announcements on technology company reports

The latest earnings reports of the 2 software giants Oracle and Adobe are expected next week. The state of technology spending by large companies will be tracked on hints by investors.

This year, Oracle's stock has fallen in value by almost 15% and Adobe's stock has fallen by more than 30%. Both companies have decreased along with the rest of the technology sector and the larger market.

However, analysts expect strong growth in sales for both companies. Adobe is expected to grow by almost 15% over the previous year, and Oracle is predicted to grow by almost 20%.

The third-quarter earnings flow from the technology sector (expected in October) will be guided by the results of Oracle and Adobe as a preliminary indicator. If the results of these 2 companies are stable, then Microsoft (MSFT), SAP (SAP), IBM (IBM) and other cloud software companies will look up to them.

Salesforce (CRM) has been cautious about predicting on its own and recently made a profit. Daniel Morgan, senior portfolio manager at Synovus Trust Company, says this could be a warning sign for both companies. In addition, the rising dollar could severely reduce profits from international operations, which could also have a negative impact on Oracle and Adobe.

More than 40% of both companies' sales are generated outside of the United States.

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