Oracle Reports Strong Q1 Results with Surging Cloud Revenue
Oracle Corp (NYSE:ORCL) reported better-than-expected first-quarter results, driven by strong performance in its cloud business and AI infrastructure. The company's revenue reached $19.3 billion, exceeding analyst estimates of $19.14 billion, while adjusted earnings per share came to $1.92 against an expected $1.74. Cloud revenue hit $11.6 billion, surpassing forecasts of $11.44 billion. Oracle secured over $30 billion in new AI cloud contracts during the quarter and expanded its data center capacity by 850 megawatts. The company raised its full-year revenue outlook to at least $90 billion from a previous estimate of $89.76 billion, while also increasing adjusted earnings guidance to $8.10 per share. Oracle expects second-quarter cloud revenue growth between 65% and 71%, with overall revenue expected to grow by 30-34%. The company stated that its capital-raising plans remain unaffected.
Tickers: $ORCL
Topics: AI infrastructure cloud revenue earnings revenue guidance