Oracle's Stock Skyrockets 43%
  • 10 months ago
Oracle's shares experienced a 5% surge in extended trading after announcing better-than-expected fiscal fourth-quarter results and revenue guidance. The cloud platform exceeded analysts' expectations with adjusted earnings of $1.67 per share and revenue of $13.84 billion, reflecting a 17% year-over-year revenue growth and net income of $3.32 billion. CEO Safra Catz projected a promising outlook, anticipating 8% to 10% revenue growth and adjusted earnings per share between $1.12 and $1.16 for the fiscal first quarter. Oracle's revenue from cloud services and license support experienced significant growth, increasing by 23% to $9.37 billion, while revenue from cloud licenses and on-premises declined by 15% to $2.15 billion.
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