ORCL announced their Q4 earnings and Full Year 2024 Results today. While the high-level financials were a bit off, the underlying data and news was very impressive. Which was validated by some big jumps in after-hours trading. Some highlights. 1) The cloud business (both infrastructure and apps) grew significantly. What was interesting was how much of that growth came from AI workloads including a new partnership with OpenAI. Larry Ellison says that the value prop was all about performance which reduces the time and cost to train models. So Oracle is able to compete on cost in a new tech are that is booming. 2) Also notable was not just revenue from the Oracle OCI and SaaS businesses but also great results from Oracle services running on other clouds. For instance, Oracle DB on Azure and also now Google which was also announced today. 3) Even though it is only 11 days into Oracle new fiscal year, it was very upbeat about the next 12-month forecast. This was due to high pipeline growth combined with increased capacity to deliver, as they brought even more data centers online globally. A lot of tech companies are having tough years. This is especially in areas where Oracle competes. It seems that Oracle has found a way to keep winning.
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Oracle plummets nearly 9% in the 'premarket' of Wall Street after disappointing its results for the second quarter of its fiscal year 2024. However, "Demand for our cloud infrastructure and generative AI services is increasing at an astronomical rate," Oracle CEO Safra Catz. "ORCL reported another disappointing quarter with a top-line miss driven by weaker-than-expected OCI revenue. While mgmt highlighted the OCI supply-demand imbalance and large deals in the pipeline, we came away with more questions than answers and believe there is more execution risk en route to FY26 targets," analysts at Jefferies said in a note.
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Oracle Corp (NYSE:ORCL, ETR:ORC) shares moved higher afterhours on Monday as the database #software and #CloudComputing firm reported a bigger-than-expected profit for the fiscal third quarter. For the quarter, Oracle reported a 16% year-over-year increase in adjusted earnings per share (EPS) to $1.41, ahead of estimates of $1.37. Revenue was up 7% at $13.3 billion, in line with expectations. Cloud services and license support revenues rose 12% to $10 billion while cloud license and on-premises license revenues decreased 3% to $1.3 billion. More at #Proactive #ProactiveInvestors #NYSE #ETR #ORCL #ORC #Tech #SaaS http://ow.ly/izK6105lvkh
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Title: 🚀 Oracle Soars After Crushing Q3 Expectations 📈 Tweet: Oracle's shares surged nearly 7% in after-hours trading on Monday, as the tech behemoth outperformed in Q3! Earnings hit $1.41 per share with a revenue of $13.28B, thanks to a 12% jump in cloud services to $9.96B. 🌥💼 Analysts were left impressed, as results surpassed the expected $1.38 EPS on $13.29B revenue. Oracle's big cloud wins have pushed its Remaining Performance Obligations up 29% to a record $80B! 📊 CEO Safra Catz highlighted massive demand for Oracle's Gen2 AI infrastructure, outpacing supply despite rapid datacenter expansions. 🏗🔝 Stay tuned for more insights from their conference call at 5 p.m. EST today. #Oracle #EarningsBeat #CloudGrowth #TechNews
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I can't believe I am saying this, but Oracle might return to growth. ORCL was up +14% after hours on earnings, read on to find out why. $ORCL #oracle #oraclecloud
Oracle is Flapping but will it Fly?
jamesthomason.com
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How Rimini Support for Oracle empowers growth and innovation https://bit.ly/3UQddy5 #CIT #WomenInTech #WorldNews #Oracle #TechNews #Tech https://bit.ly/2TXUbUR
How Rimini Support for Oracle empowers growth and innovation
erp.today
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We just analyzed Oracle with our Earnings Insight tool which dives into company documents, extracting key positive statements to bring you a comprehensive & insightful overview. Here's what we found! Their fiscal 2024 second quarter results are nothing short of impressive, signaling a robust trajectory in the tech world. With total revenues scaling up to $12.9 billion, marking a 5% year-over-year increase, Oracle is demonstrating its unwavering commitment to growth and innovation. The spotlight shines bright on Oracle's cloud services, where the numbers speak volumes. The combined Cloud Revenue from IaaS and SaaS has hit a striking $4.8 billion, a 25% jump that illustrates the burgeoning demand in this sector. The Cloud Infrastructure segment, in particular, has witnessed a phenomenal 52% growth, showcasing Oracle's strong foothold in the market. But that's not all. The Cloud Application (SaaS) Revenue, including standout performers like Fusion and NetSuite Cloud ERP, has reached an admirable $3.2 billion, growing by 21%. These figures are a testament to Oracle's strategic prowess and its ability to stay ahead of market trends. Oracle CEO Safra Catz's insights are illuminating – the demand for Oracle’s Cloud Infrastructure and Generative AI services is skyrocketing at an astronomical rate. The company’s cloud business is nearly hitting a $20 billion annual revenue run rate, indicative of its potential and the high-caliber solutions it offers. Meanwhile, Oracle Chairman and CTO Larry Ellison's vision is setting a new course for the company. With plans to expand 66 existing cloud datacenters and build 100 new ones, Oracle is geared up to meet the surging global demand. The upcoming launch of 20 new Oracle cloud datacenters, integrated with Microsoft Azure, is a strategic move that underscores Oracle's commitment to innovation and global expansion. Download EQL App and use it today: https://lnkd.in/e-d478z7 #Oracle #CloudComputing #AI #Tech #Innovation #BusinessGrowth
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#Oracle Corporation (NYSE: ORCL) has announced impressive Q3 results for fiscal year 2024. One of the key drivers behind this success has been the demand for its Gen2 AI infrastructure, which substantially exceeds supply. Despite opening new and expanding existing cloud data centers rapidly, Oracle expects to continue receiving large contracts reserving cloud infrastructure capacity. This is excellent news for enterprise cloud customers who are integrating artificial intelligence technology and innovation. Check out the link to learn more about Oracle's outstanding results: https://lnkd.in/g3ut2P5w #AI #cloudcomputing #Oracle #enterprise
Oracle shares soar 13% on better-than-expected quarterly earnings
cnbc.com
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Oracle ended Q3 FY24 with a 15% jump in value after earnings. The reason? Its sharp focus on AI and ML within its cloud offerings. Oracle has embraced AI and ML, weaving these technologies into its cloud services. Partnerships, like the one with NVIDIA. Innovations, such as autonomous databases. These have pushed Oracle ahead. Made its cloud services more efficient and attractive. The impact? Oracle's cloud revenue saw a 25% year-over-year increase. Oracle's IaaS grew by 49%, and SaaS by 14%. These technologies have attracted more users, boosting Oracle's income. Oracle plans to increase its spending to $10 billion in FY25, focusing on data centers. This investment supports its AI/ML initiatives. Despite this big spending, Oracle's financial health remains strong. Its strategy aims for growth while keeping finances in check. Oracle's use of AI/ML in cloud services is a clear win. It shows that smart technology investments can significantly boost revenue. Thoughts? #webscraping #artificialintelligence #innovation #data 𝗚𝗮𝘁𝗵𝗲𝗿𝗶𝗻𝗴 𝘄𝗲𝗯 𝗱𝗮𝘁𝗮 𝗱𝗼𝗲𝘀𝗻’𝘁 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗯𝗲 𝗵𝗮𝗿𝗱. Our AI-powered web data access solutions have won the trust of leading data teams at Uber, Pinterest, Discord and more. ➡️ https://lnkd.in/dCsuRphk
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☁☁☁ By now, organizations aren't sleeping on the Cloud anymore. Even organizations mainly sticking to their on-premises or dedicated server strategies often have a service or two running in the cloud. Large providers like OCI and some small providers have focused marketing on their automated scaling features. These features help the users keep it cheap or free to try new tech and financially reasonable to scale once in production. So, with no friction for these organizations, regardless of Cloud adoption level, to try out AI solutions, there's no wonder to how Oracle got to a place where there is more demand for their AI compute than is available.
#Oracle Corporation (NYSE: ORCL) has announced impressive Q3 results for fiscal year 2024. One of the key drivers behind this success has been the demand for its Gen2 AI infrastructure, which substantially exceeds supply. Despite opening new and expanding existing cloud data centers rapidly, Oracle expects to continue receiving large contracts reserving cloud infrastructure capacity. This is excellent news for enterprise cloud customers who are integrating artificial intelligence technology and innovation. Check out the link to learn more about Oracle's outstanding results: https://lnkd.in/g3ut2P5w #AI #cloudcomputing #Oracle #enterprise
Oracle shares soar 13% on better-than-expected quarterly earnings
cnbc.com
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#Oracle Corporation (NYSE:ORCL) shares fell more than 8% in Monday’s after-hours session after the cloud services provider announced second quarter fiscal 2024 revenue that rose 5% year over year to $12.9 billion, falling short of the $13.05 billion analyst consensus estimate. The company’s adjusted earnings per share (EPS) for the period of $1.34, though, edged past Wall Street expectations by a penny. "Demand for our Cloud Infrastructure and Generative AI services is increasing at an astronomical rate," Oracle CEO Safra Catz said in a statement. "Our cloud businesses are now at nearly a $20 billion annual revenue run rate, and cloud services demand continues to grow at unprecedented levels," she added. Oracle’s 2Q revenue from cloud services and license support increased 12% to $9.64 billion but missed the consensus estimate of $9.71 billion. More at #Proactive #ProactiveInvestors #NYSE #ORCL http://ow.ly/okUr1055mae
Oracle stock slides on 2Q revenue miss; cloud sales fall short
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