Oracle’s AI-Driven Cloud Growth Beats Forecasts
TL;DR Summary
Oracle reported cloud infrastructure sales surged 121% to $7.4B, topping estimates of $7.19B as its AI data-center push gains traction. Fiscal first-quarter revenue rose 30% to $19.3B with non-GAAP earnings of $1.92 per share, above the $1.75 consensus. The company also completed an at-the-market equity sale of $20B. Wall Street will watch how quickly Oracle scales its AI-focused cloud capacity as it eyes OpenAI and other customers, with shares moving higher in after-hours trading.
- Oracle Posts Cloud Sales That Top Estimates on Surging AI Demand Yahoo Finance
- Oracle's stock edges up on earnings beat as cloud infrastructure revenue more than doubles CNBC
- Oracle shares rise as AI cloud backlog beats estimates Reuters
- Oracle Announces Q1 Results Driven by Triple Digit Growth in Cloud Infrastructure Revenues Oracle - Investor Relations
- Oracle Posts Higher Profit, Revenue on Continued Cloud Infrastructure Strength WSJ
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