From CNBC:

Oracle reported quarterly earnings that exceeded expectations, with earnings at $1.41 per share adjusted, and revenue at $13.28 billion. Net income rose 27% to $2.4 billion. Cloud services sales increased by 12% to $9.96 billion, driven by strong demand for artificial intelligence servers. The company’s cloud revenue soared 25% year-over-year to $5.1 billion.

CEO Safra Catz stated that Oracle added significant new cloud infrastructure contracts, leading to a rise in cloud revenue. However, other segments experienced declines, including cloud license and on-premise sales dropping 3% to $1.26 billion, hardware revenue falling 7% to $754 million, and service division sales decreasing 5% to $1.31 billion. Despite this, Oracle remains optimistic about future prospects.



Read more at CNBC:: Oracle (ORCL) earnings report Q3 2024