The earnings call comes on the back of a 23% drop in Oracle’s share price last month, its worst monthly performance since 2021. But although the stock declined further today, it’s still up more than 33% in the year to date, ahead of the broader, technology-focused Nasdaq index, which has gained just 22% this year.

Oracle stock fell late Wednesday after the tech giant in the center of the AI debate reported mixed fiscal Q2 results.