From Nasdaq: 2024-04-02 11:32:00

Shares of Oracle Corporation (ORCL) have surged by 19% year to date, outpacing the Computer and Technology sector’s growth. The company’s expanding partner base, including Microsoft and NVIDIA, has contributed to recent acquisitions like the Administrative Office of the U.S. Courts and ONO Pharmaceutical. Strong revenue growth is expected, with cloud revenues projected to increase by 22-24%. ORCL has collaborated with Microsoft to expand its Database@Azure into five additional regions globally.

Despite competition from industry giants like Salesforce and Amazon, Oracle’s partnerships are expected to drive cloud services and license revenues in 2024. The Zacks Consensus Estimate for fiscal 2024 projects a 26.5% growth in cloud services and license revenues. Challenges from Salesforce’s Sales Cloud and Microsoft’s government CRM solutions are noted, along with Amazon’s strong presence in offering cloud services to government agencies. Oracle’s cloud services revenue offers a new source of recurring revenues, adding visibility amid tough competition.



Read more at Nasdaq: Oracle (ORCL) Rides on Expanding Partner Base, Strong Portfolio