From CNBC: 2024-12-10 12:31:11

Larry Ellison, co-founder of Oracle, spoke at the Oracle OpenWorld 2017 conference. Oracle shares dropped 8% after disappointing earnings report. Revenue rose 9% to $14.06 billion, missing estimates. Cloud services revenue jumped 12% to $10.81 billion. Oracle expects 7-9% revenue growth for the current quarter, with earnings of $1.50-$1.54 per share. Oracle’s cloud infrastructure unit revenue soared 52%. Oracle signed a deal with Meta to help with AI projects. Stock price target raised to $210 based on cloud momentum.



Read more at CNBC:: Oracle shares head for worst day of 2024 after Q2 earnings miss