Oracle shares rise after strong earnings and cloud growth
Oracle's stock rose 7% after its quarterly results beat expectations, driven by a 121% increase in cloud infrastructure revenue. The company reported $19.35 billion in revenue and adjusted earnings of $1.92 per share, both surpassing analyst estimates. Capital expenditures jumped to $28.5 billion, and Oracle reaffirmed its commitment to significant data center investment through 2027. Cloud revenue and future performance obligations both exceeded analyst forecasts.
- Cloud infrastructure revenue grew 121% year over year
- Quarterly revenue reached $19.35 billion, exceeding estimates
- Capital expenditure rose to $28.5 billion from $8.5 billion
- Oracle maintained its long-term data center spending forecast
- Performance obligations outpaced analyst forecasts
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