From CNBC: 2024-12-09 16:23:54

Oracle shares fell in after-hours trading as the company’s fiscal second-quarter results missed analysts’ expectations. Earnings per share were $1.47, below the expected $1.48, with revenue at $14.06 billion, slightly under the $14.1 billion estimate. Sales grew 9% year over year, with net income at $3.2 billion, up 22% from the previous year.

Oracle signed an agreement with Meta for the social media giant to use Oracle’s cloud computing service for projects related to the Llama family of AI models. Oracle Chairman Larry Ellison highlighted their AI capabilities, stating that Oracle is faster and cheaper than other cloud providers.

In September, Oracle raised its fiscal 2026 revenue guidance to $66 billion, surpassing analyst projections by $1.5 billion. The company also announced the availability of cloud computing clusters using over 131,000 Nvidia “Blackwell” GPUs for AI model training. Oracle’s stock has surged over 80% this year, marking its best performance since 1999.



Read more at CNBC:: Oracle shares slide on earnings and revenue miss