From Dotdash: 2024-06-11 17:03:15

Oracle reported fourth-quarter revenue of $14.29 billion, up 3% but missing analyst estimates. Net income was $3.14 billion, down from the previous year and below expectations. Despite this, Oracle announced partnerships with Microsoft, OpenAI, and Google Cloud for AI data centers, driving shares up over 9% in extended trading.Oracle also shared plans for OCI data centers within Google Cloud. CEO Safra Catz highlighted the surge in AI contracts, with Q4 seeing over 30 contracts worth $12.5 billion. Shares surged 9% to $135.25 in response to the news.



Read more at Dotdash: Oracle Stock Surges on Deals With Microsoft, OpenAI, and Google, Despite Earnings Miss