Oracle stock surges on earnings beat as cloud infrastructure revenue jumps 121%
Oracle's quarterly results exceeded analyst expectations, with cloud infrastructure revenue jumping Oracle's cloud infrastructure revenue jumped 121% since last year, reflecting demand for its AI cloud services.
from the prior year, according to CNBC. The company also reported Oracle jumps 6% after reporting 30% revenue growth fueled by AI cloud demand.
overall revenue growth driven by demand for its AI cloud services. The earnings beat and stronger-than-expected revenue backlog sent the stock higher in trading.
Sources: CNBC
This article is for information only and is not financial advice.
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