Positive. Oracle Corp reported exceeding revenue expectations and strong growth in cloud services, boosting stock.

From Barchart: 2024-09-06 12:32:01

In recent news, Oracle Corporation has reported a 3.8% increase in revenue for the first quarter of their fiscal year, totaling $9.73 billion. This figure surpassed analysts’ expectations of $9.77 billion. Additionally, the company’s earnings per share reached $0.72, beating estimates of $0.69 per share.

Oracle Corporation attributed this growth to strong demand for its cloud services and licensing support. The company’s cloud services and license support revenue saw a 9% increase, reaching $7.39 billion. Oracle’s cloud license and on-premise license revenue also rose 11% to $813 million.

Analysts have noted that Oracle’s performance is a positive signal for the tech sector as a whole. The company’s strong quarterly results demonstrate resilience in the face of economic challenges. Oracle’s stock has seen a 4% increase in after-hours trading following the earnings report.



Read more at Barchart: Oracle Corp Is Expected to Show Strong Free Cash Flow Results Next Week