Oracle Reports Record Results as Cloud Revenue Surges
Oracle reported strong quarterly results, with revenue rising to a record $19.35 billion in its fiscal first quarter and adjusted earnings per share reaching $1.92 — both exceeding analysts' expectations. The company's cloud infrastructure business saw more than double the year-over-year revenue growth due to increased data center capacity. Oracle attributed this success partly to growing demand for AI Cloud Training and Inferencing Services, which led to over $30 billion in new contracts without requiring additional capital investment. Oracle also announced a record backlog of $664 billion and provided an optimistic outlook, forecasting current-quarter revenue growth between 30% and 34%, with full-year revenue expected to reach at least $90 billion. The results aim to restore investor confidence in Oracle's stock after it fell more than 50% from its previous record high due to concerns over AI infrastructure spending. Despite a strong performance, shares of Oracle dropped nearly 5% during the regular trading session on Thursday before surging by more than 6% in extended trading.
Tickers: $ORCL
Topics: AI Cloud Infrastructure Earnings Report Stock Performance